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TAX 1 RESEARCH AND DEVELOPMENT. Tightening up.
Byline: Ruan Jooste
TAX 1 RESEARCH AND DEVELOPMENT Tightening up Right now, SA is not the best place to invest in research and development (R& D). Not only do foreign investors consider other jurisdictions more tax friendly, but the recently promulgated Taxation Laws Amendment Act introduced several amendments that will limit benefits for taxpayers engaged in R& D. The amendments will take effect on April 1. Among these amendments is the stipulation that the tax deduction for R& D costs of 150% will be available only to companies and not to any other forms of enterprise. Universities often carry out a lot of R& D work. However, these entities will still qualify …
