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  • 北京赛车pk拾开奖记录: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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  • 美国首届“‘一带一路’亚洲商务论坛”即将在堪萨斯州举办 2019-10-08
  • 久久为功,扎实推进生态宜居的美丽乡村建设 2019-10-02
  • 秦春成任桂林市代市长 周家斌辞去市长职务(图简历) 2019-10-02
  • 回复@看着就想笑:你这种伪高工就是计划经济的产物,在市场经济中必然被淘汰!你肯定不会喜欢市场经济。但淘汰你正是市场经济不可比拟的优势:任何人都别想跟着混! 2019-10-01
  • 【专题】书记、市长去哪儿 2019-09-24
  • 武警驻滇某部坚持以考促训 现场评判现场亮分 2019-09-23
  • 【纯黑攻略】《恶灵附身2》逃生再临p3 2019-09-21
  • 康师傅控股有限公司获第十二届人民企业社会责任奖年度扶贫奖 2019-09-20
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  • 丰田致享直降1.3万元 少量现车欲购从速 2019-09-15
  • 电影人共聚“微博电影之夜” 张艺谋:如果不当导演就当守门员 2019-09-15
  • 中国三星获第十二届人民企业社会责任奖年度扶贫奖 2019-09-14
  • 巴川中学王苗:留守儿童长大了 2019-09-14
  • [微笑]建议你去学学边际理论!基本需求免费与高级需求收费并不矛盾,相反是更有利于保持社会的良性循环。 2019-09-10
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