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Income Tax Act, 1962 (Act 58 of 1962)

Regulations made under Section 12I of the Income Tax Act, 1962

4. Point system for qualifying as an industrial policy project

 

 

Points system

 

In terms of section 12I(8), the Minister of Trade and Industry must, after taking into account the recommendations of the adjudication committee, approve an industrial project as—

(a) an industrial policy project where that industrial project achieves at least—
(i) five out of the 10 potential points in terms of the criteria contemplated in section 12I(8); and
(ii) two out of the four points in terms of the direct employment creation and the skills development criteria contemplated in section 12I(8)(d) and (e); and
(b) an industrial policy project having preferred status, where the industrial project achieves at least eight out of the 10 potential points in terms of the criteria contemplated in section 12I(8).