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Amended SA tax laws will incentivise local R&D
Engineering News reports that South Africa's Taxation Laws Amendment Bill 2011 has been designed to incentivise local companies to upscale their research and development (R&D) activities. The Bill is yet to be signed by President Jacob Zuma and is expected to become effective in April 2012.
According to Engineering News, Department of Science and Technology (DST) chief director for science and technology investment Godfrey Mashamba said government aimed to encourage small and large business enterprises to undertake more R&D projects, in the knowledge that their efforts are being supported by effective tax incentives. "R&D tax incentives are critical for companies to include in their budget allocations and to prioritise in the planning stages of projects," Mashamba said.
For more:
- Engineering News: Tax laws to be amended in bid to stimulate R&D.
