South African Institute for Drug Free Sport Act, 1997
R 385
Income Tax Act, 1962 (Act No. 58 of 1962)RegulationsTax Holiday Regulations (Regulations under section 37H(14))5. Ratio of Human Resource Remuneration to Value Added |
| (1) | The ratio of human resource remuneration to value added shall be determined in accordance with the following formula: |
in which formula—
| (a) | "V" is the percentage to be determined; |
| (b) | "A" is the gross operating surplus determined in accordance with Part A of Table 1; and |
| (c) | "B" is the total human resource remuneration determined in accordance with Part B of Table 1. |
| (2) | To qualify for purposes of the human resource component, such percentage shall exceed 55 per cent and be reflected in the application. |
| (3) | Where the project consists of more than one component, one of which is the human resource component— |
| (a) | such percentage shall be maintained for a period of two years during the tax holiday status attributable to the certification by the Board of the other component of the qualifying project of a qualifying company; or |
| (b) | such percentage shall be maintained for a period of four years during the tax holiday status attributable to the certification by the Board of the other two components of the qualifying project of a qualifying company. |
