When an investment cannot be carried out, is abandoned, or its conditions cannot be met, properly managing the cancellation and removal process for the incentive certificate minimizes potential financial penalties.
If the incentive certificate is cancelled, previously claimed support such as VAT exemption, customs duty exemption, and tax reduction may need to be repaid with default interest. Proper management of the process minimizes potential financial liabilities and protects the investor from unexpected costs.
The incentive certificate may be cancelled or removed in the following cases:
Guidance is provided on repayment obligations and interest calculations in cancellation or removal procedures.