Question NW4221 to the Minister of Trade, Industry and Competition
02 January 2024 - NW4221
Marais, Mr EJ to ask the Minister of Trade, Industry and Competition
Since Saldanha Bay Industrial Development Zone is the first special economic zone in the Republic to include a commercial port, what additional incentives will be given to investors that specifically invest in (a) oil and gas and (b) marine repair and engineering?
Reply:
I am advised that the following key tax incentives and support apply:
- A reduced corporate income tax rate of 15%
- An accelerated depreciation allowance of 10% on cost of any new and unused buildings or improvement owned by the qualifying company, where applicable.
- Customs Control Incentives (CCA).
- Building of Top Structures for tenants in the SBIDZ.
These incentives and support are subject to applicants meeting application criteria and budgetary availability. National Treasury considers tax incentives relating to SEZs.
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