Manufacture of basic chemicals, fertilizers and nitrogen compounds, plastics and synthetic rubber in primary forms

ISIC 201 falls under 'Manufacturing of goods or materials' as a Qualifying Activity. Forensic auditors will verify the 'Substantial Transformation' test via Bill of Materials (BOM) and energy consumption logs to ensure the entity is not merely re-packaging or acting as a pass-through for excluded trading activities.

Audit Red Flag

Misclassification of 'Third-Party Trading' as 'Manufacturing' where no 'substantial transformation' of chemical precursors occurs within the Free Zone.

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