ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
On April 23, 2015, the South African National Treasury published under Government Gazette No. 38732 a new tax incentive for pharmaceutical companies performing R&D or clinical trials within South Africa's borders. Such tax deductions may amount to up to 150% of the cost of the R&D operations (amounts above 100% allow to offset future taxable income).
This law comes in the form of an amendment to South Africa's Income Tax Act of 1962 in where it allowed other companies performing R&D operations in South Africa to receive up to 150% of deductions in taxes. Such projects must be preapproved by South Africa's Department of Science and Technology.
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