Income Tax Act, 1962 (Act 58 of 1962)
Tax Holiday Regulations
2. Investment requirements
|1)||The amount of capital invested in-|
|a)||land whereon and buildings wherein the process of manufacture is to be carried on; and|
|b)||machinery and plant to be used directly in the process of manufacture,|
must exceed R3 million.
|2)||The amount of capital invested in land and buildings is calculated by adding-|
|a)||the cost of land and buildings owned or to be owned by a company; and|
|b)||the capitalised value of land and buildings leased or to be leased, capitalised by that company at 15 per cent per annum.|
|3)||The amount of capital invested in machinery and plant is calculated by adding-|
|a)||the cost of machinery and plant owned or to be owned by a company; and|
|b)||the capitalised value of machinery and plant leased or to be leased to be reflected in the balance sheet of that company.|
Join our mailing list!
Best Selling Products
Immigration Act, 2002