Fiscal Incentives Act (No. 4 of 2023).

This Act lays down provisions on the application, eligibility, grant, variation, suspension and revocation of financial incentives; one-off fiscal incentive; financial incentives to Micro, Small and Medium Enterprises (MSMEs); fees; and administrative penalties. The incentives granted by the Minister may include exemption from import duty; revenue replacement duty; excise duty; or the payment of business tax. Schedule 1 lists the approved activities which are one the conditions of eligibility for financial incentives, including but not limited to: agriculture, forestry, agro-processing, food processing, renewable energy, tourism, health care services, aquaculture and mariculture, and fisheries related activities.