The following are the Incentives that businesses locating within the Nkomazi SEZ will be able to benefit from:-
- Preferential 15% Corporate Tax. Businesses located in a SEZ may be eligible for tax relief, including the reduced rate of corporate income taxation. In addition to satisfying the requirements of the SEZ Act, further criteria for some of the available tax incentives are stipulated in the Income Tax Act, 1962 (Act No. 58 of 1962.)
- Building Allowance. Businesses and Operators (prescribed in Section 1 of the SEZ Act) operating within a SEZ may be eligible for tax relief, including the building allowance, subject to requirements contained in the Income Tax Act.
- Employment Incentive. Businesses and Operators operating within a SEZ may be eligible for tax relief, including the employment tax incentive subject to requirements contained in the Employment Tax Incentive Act, 2013 (Act No. 26 of 2013).
- Customs Controlled Area. Businesses and Operators located within a customs controlled area of a SEZ will be eligible for tax relief as per the Value-Added Tax Act, 1991 (Act No. 89 of 1991), the Customs and Excise Act, 1964 (Act No. 91 of 1964), the Customs Duty Act 2014 (Act No. 30 of 2014) and the Customs Control Act, 2014 (Act No.31 of 2014).
- Tax Allowance. The 12I Tax Incentive is designed to support Greenfield investments (i.e. new industrial projects that utilise only new and unused manufacturing assets), as well as Brownfield investments (i.e. expansions or upgrades of existing industrial projects). The new incentive offers support for both capital investment and trainin