Launches new incentives schemes
08 Nov 2010
On 8 November 2010, South Africa launched an incentive programme comprising two components per project: (i) an investment allowance of up to a maximum of R900 million, and (ii) a training allowance of up to R30 million. Both allowances are deductible from the taxable income of successful applicant companies in several sectors, including metals and metals fabrication, chemicals and plastics, agro-industries and 'green' industries. On 23 November 2010, South Africa also adopted new incentives for investors in the off-shoring sector. The new measure reduces the cost of operations in the country by around 20 percent.
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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Primary (Agriculture, forestry and fishing)
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Manufacturing (Manufacture of chemicals and chemical products, Manufacture of basic metals, Manufacture of fabricated metal products, except machinery and equipment)
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Sources:
