The Solomon Islands Finance minister says only investments by businesses that are new, expanding or based in rural areas are eligible for tax exemptions.
Gordon Darcy Lilo says under the new guidelines, businesses must meet a 'national interest test'.
He says applicants for tax exemptions must demonstrate that the benefits of the proposed exemption outweigh the costs of the exemption to the government revenue and to the economy.
He says the Government tax exemption guidelines are designed to create a more transparent, fair and accountable exemptions process.
He says a regular exemption report is a requirement under the exemption guidelines that were released in June 2006.
The Solomons Broadcasting Corporation reports the guidelines apply to all applications for Goods Tax, Income Tax or Import Duty exemptions.
