Subscribe & Follow

Advertise your job vacancies

Jobs

HR Administrator (Namibia) Johannesburg
Marketing Lead - Life Sciences Cape Town
Digital Marketing Intern Cape Town
Music Profiler Durban
Account Director Johannesburg
Manager Centre Waterfall
Business Analyst Bryanston
Account Director Roodepoort
IT Support Engineer Cape Town
Intermediate Analytics Engineer Cape Town

Government bungle sees R400 million unpaid

The government owes at least R400 million to motor manufacturers and automotive component companies after a bungled tender process left the incentive benefits unpaid according to an article published in Business Day.

23 Aug 2011

In terms of the Productive Asset Allowance Scheme, vehicle manufacturers and component suppliers can claim back 25% of their capital expenditure and payments are supposed to be made to them at the rate of 4% a year for 5 years.

This has not happened and Department of Trade and Industry spokesman Sidwell Medupe has confirmed that there "are problems", which have delayed the flow of funds back to the automotive manufacturers.

Read more: