Gas Regulator Levies Act, 2002
R 385
Income Tax Act, 1962 (Act No. 58 of 1962)RegulationsTax Holiday Regulations (Regulations under section 37H(14))2. Investment requirements |
| (1) | The amount of capital invested in— |
| (a) | land whereon and buildings wherein the process of manufacture is to be carried on; and |
| (b) | machinery and plant to be used directly in the process of manufacture, |
must exceed R3 million.
| (2) | The amount of capital invested in land and buildings is calculated by adding— |
| (a) | the cost of land and buildings owned or to be owned by a company; and |
| (b) | the capitalised value of land and buildings leased or to be leased, capitalised by that company at 15 per cent per annum. |
| (3) | The amount of capital invested in machinery and plant is calculated by adding— |
| (a) | the cost of machinery and plant owned or to be owned by a company; and |
| (b) | the capitalised value of machinery and plant leased or to be leased to be reflected in the balance sheet of that company. |
