5. Low and Simple Taxes

• 20% flat personal income tax decreasing to 15% by 2012
• 18%VAT
• 15% corporate income tax
• 5% interest income and dividend tax rates decreasing to 0% by 2012
• 1%(max) property tax on the self-assessed value of property
• 0% dividend income tax on dividends from publicly-traded equities from 1 January 2009
• 0% tax on interest income from bank deposits and publicly-traded debt securities (from 1 January 2009)
• 0% capital gains tax
• 0% social insurance or similar taxes
• 0% inheritance tax
• 0% wealth tax
• 0% stamp duty or other transaction-based taxes or levies

Free Industrial Zone:

• 0% VAT
• 0% customs tax
• 0% property tax