Govt to launch new tax incentive programme

Monday, November 8, 2010

Pretoria - Government will this morning launch a R20 billion tax incentive programme based on investment in new manufacturing assets and training provided to employees.

The Industrial Policy Project (IPP) tax allowance programme will comprise two components - an investment allowance of up to a maximum of R900 million and a training allowance of up to R30 million.

The programme seeks to accelerate economic growth and support the industrial policy, in the form of a tax allowance for additional investment or training which will result in energy efficiency, job creation and industrial skills enhancement.

The tax incentive programme will be launched in Pretoria by the Minister of Trade and Industry, Dr Rob Davies.