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  • 北京赛车pk10开奖开奖:RESEARCH AND DEVELOPMENT (R&D) INCENTIVE

    北京赛车pk10技巧 www.zzff8.com Top Tip: Regulations in terms of paragraph (e) of definition of "research and development" in section 11D(1) on criteria for clinical trials in respect or deduction for research and development. Read more here.

    The main aim of this incentive is to encourage South African companies to invest in scientific or technological research and development.

    The section 11D Research and Development Incentive (R&D) was introduced into the Income Tax Act, in 2006 to replace the previous research and development rule that existed in terms of section 11B.


    Section 11D allows:

    • A deduction equal to 150%?of expenditure incurred directly for Research & Development and

    • An accelerated depreciation deduction (that is, 50:30:20) for capital expenditure incurred on machinery or plant used for R&D.

    Structure of the R&D Adjudication Committee

    The R&D adjudication committee is made up of–

    • Three people employed by the Department of Science and Technology, and appointed by the Minister of Science and Technology

    • One person employed by National Treasury, who is appointed by the Minister of Finance

    • Three people employed by SARS, who are appointed by the Minister of Finance.

    The role of the R&D Adjudication Committee

    The role of the R&D Adjudication Committee includes:
    ?
    • Reviewing and making recommendations for approval or non-approval of R&D applications to the Minister of Science and Technology.

    • Reviewing of an annual progress report which is submitted by taxpayers claiming the incentive as set by the legislation.

    SARS’s role in managing section 11D

    SARS will allow a deduction when:

    • The R&D was pre-approved by the R&D Adjudication Committee

    • The taxpayer has an approval letter issued by the Department of Science and Technology

    • The expenditure has incurred:
      • Directly for research and development
      • In the production of income and
      • In the carrying on of trade.

    Top Tip: Even if the taxpayer has received pre-approval of an R&D project, SARS will still retain its audit oversight role.

    SARS will work out whether the claimed expenditure is within the boundaries of the expenditure approved by the pre-approval committee. The expenditure is actually incurred in the production of income and in the carrying on of trade.

    Other matters relevant to SARS

    • Provisional Tax: when calculating Provisional Tax, it is important not to assume that the Minister of Science and Technology will approve the application, as this is subject to penalties.

    • Assessments: where approval is received after an assessment has been finalised, a Request For Correct (RFC)can be made to include the R&D expenditure approved by the R&D pre-approval committee.

    More Information

    For more information on the R&D incentive, see the Department of Science & Technology.


    To access this page in different languages click on the links below:

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  • 敲黑板!“信息公开”不是“隐私公开”! 2019-08-18
  • 这下就真的更加坐实你的老蚕了,所有网友都是见证!想赖都赖不掉了。 2019-08-16
  • 林志玲现身机场穿粉色上衣变活力少女 2019-08-14
  • 向“久拖不办”背后“伪作为”顽疾坚决说不 2019-08-11
  • 全国京东大鼓星火日活动举行 2019-08-08
  • 大牌开讲了丨颈椎有“烦心事”,听骨科专家如何化解 2019-08-07
  • 商务部公布多项进口产品反倾销调查文件 2019-08-07
  • 旅游市场再创佳绩端午假期河北接待游客2026.77万 揽金147.79亿 2019-08-03
  • 这是很容易检验的!家庭是按需分配的,也是各尽所能的。笑博士在家中,除按需分配外,还有什么是需要从家中按劳分配的,跟大家讲讲如何? 2019-08-01
  • 候选企业:泸州老窖股份有限公司 2019-08-01
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  • 重磅 江西省委副书记李炳军同志任省委党校校长 2019-07-31
  • 证监会核发两家企业IPO批文 筹资总金额不超10亿元 2019-07-26
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  • 【大家谈】越开越大的开放大门,通往又一段“中国奇迹” 2019-07-22
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