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Tax reduction in special zones

1 Mar 2013

Tax incentives will be authorised in certain special economic zones after consultation between the Minister of Finance and the Minister of Trade and industry‚ the Budget Review document revealed on Wednesday (27 February).

It has been proposed that a 15% corporate income tax rate be levied on businesses in such areas. They will also receive an employment incentive allowing for a tax deduction for employment of workers earning less than R60‚000 a year.

In addition‚ there will be an accelerated depreciation allowance for buildings in these areas‚ based on the existing tax regime for urban development zones‚ to encourage developers to invest more in industrial premises.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za