Advantages of SEZ - General Economics & Indian Economy

Q.  Consider the following statements related to SEZ

1. It is a duty free enclave to be treated as foreign territory for the purpose of trade operations and duties and tariffs

2. The corporation in SEZs will not have to pay any income tax on their profits for the first five years and only 50% of the tax for 2 more years thereafter

3. A SEZ does not require a license for exports

Which of the above statements are true?
- Published on 05 May 15

a. 1,2
b. 2,3
c. 1,3
d. All the above

ANSWER: 1,2
 
A SEZ does not require a license for imports.

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