Tax Incentives
The Income Tax Act does provide a range of incentives intended to encourage investment in the Solomon Islands.
The power to exempt lies with the Commissioner of Inland Revenue and is discretionary in nature. It is important to note that the government has signalled its intention to address problems created by widespread exemptions with the objective of creating a more level playing field for all businesses. A conservative approach is therefore taken to the granting of exemptions.
An exemption committees has been established to assist the Commissioner undertake his statutory functions. The Committee meets regularly and provides recommendations through the CIR. All applications for incentives should be made to the Chairman of the Exemption Committee.
For further information please refer to our guide to the Exemption Process.