Month: March 2020

Assistance for businesses that may be in distress due to National Shutdown

-Government will provide a tax subsidy of up to R500 per month for the next 4 months for those private sector employees earning below R6500 under the Employment Tax incentive.This will help over 4 million workers. -SARS will also work towards accelerating the payment of employment tax incentive reimbursements from twice a year to monthly …

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Section 12R of the Income Tax Act (Special Economic Zones)

Section 12R of the Income Tax Act 52 of 1962, as a consequence of an initiative by the Department of Trade and Industry, was introduced in 2014 to enhance trade through the Special Economic Zone Act 16 of 2014 and attract direct foreign investment. The benefits Companies qualifying under section 12R are not taxed at …

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