Section 12I provides for the deduction of additional investment and training allowances from the income of a company carrying on an "industrial project" which qualifies as an "industrial policy project".
This draft Note provides guidance on the interpretation and application of section 12I.
The SAIT will be making submissions to SARS on this matter. Kindly submit comments to email@example.com by no later than 7 November 2014.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.