Budgetary Measures 2024-2025 – Freeport and Logistics
Following the Government Budget 2024-2025, please find below the Budgetary Measures 2024-25 relating to the Freeport and Logistics.
Freeport Act
The Freeport Act will be amended to –
(a) allow a company to operate under both a Global Business licence and a Freeport certificate but it will not be entitled to the tax holiday granted to qualifying Freeport operators;
(b) provide for the extension of the maximum period during which goods may be warehoused in a freeport zone by 3 years; and
(c) authorise a Fulfillment Centre as a Freeport activity, provided that it does not include any –
(i) manufacturing activity; or
(ii) activity which does not involve physical movement of goods in the Freeport.
Source: Annex to Budget Speech 2024-25
