Special Economic Zones – Alignment of sunset clauses – South Africa
3 minutos National Treasury and the South African Revenue Service (SARS) issued the 2020 Draft Taxation Laws Amendment Bill (draft TLAB) for public comment on 31 July 2020. Contained within these are amendments to sections 12R (s12R) and 12S (s12S) of the Income Tax Act No. 58 of 1962 (the Act), which deal with Special Economic Zones (SEZs). The SEZ tax regime was introduced in 2013 with s12R (which provides the qualifying criteria for a reduced 15% corporate tax rate) and s12S (which provides Continue lendo→