New incentives schemes
08 Nov 2010
On 8 November 2010 South Africa launched an incentive programme that comprises of two components per project depending on compliance: (i) an investment allowance of up to a maximum of R900 million, and (ii) a training allowance of up R30 million. Both allowances are deductable from the taxable income of applicant companies in several sectors including, metals and metals fabrication, chemicals and plastics, agro-industries and the new 'green' industries. South Africa also adopted on 23 November 2010 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:
