ANNOUNCED AS TEMPORARYNo
On 12 May 2010, the Department of Trade and Industry approved guidelines for the Automotive Investment Scheme (AIS). The scheme is designed to grow and develop the automotive sector through investment in new and/or replacement models and components that will increase plant production volumes, sustain employment and/or strengthen the automotive value chain.
The scheme potentially influences international commerce by providing taxable cash grants to approved applicants to among other things, increase production; introduce new components; introduce intermediate products or processes not currently manufactured or performed in South Africa; create new markets for current components manufacturers or introduce substantial new foreign first tier supplier of components not currently manufactured in South Africa.
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