Why South African businesses should apply for a section 11D Tax Incentive today
Section 11D of the South African Income Tax Act (the “Act”), makes provision for a tax incentive scheme, commonly referred to as the Research and Development (R&D) tax incentive. The R&D tax incentive is a very attractive tool for any business, as it offers businesses the opportunity to deduct R1.50 from its taxable income for every R1.00 spent on R&D.