Government Notice No. 2902 of 2022

Income Tax Act (58/1962), as amended » section 12I Tax Allowance Programme » coega Fruit Terminal (Pty)...

Title	Income Tax Act (58/1962), as amended » section 12I Tax Allowance Programme » coega Fruit Terminal (Pty) Ltd
Department	Trade and Industry
Gazette	National Gazettes, No. 47789 of 23 December, 2022, 1 page(s), 47.7Kb

STAATSKOERANT, 23 DESEMbER 2022                       No. 47789    93

DEPARTMENT OF TRADE, INDUSTRY AND COMPETITION
          NO.  2902                                                                          23 December 2022

SECTION 12I TAX ALLOWANCE PROGRAMME

The Minister of Trade, Industry and Competition, Mr Ebrahim Patel - in terms of Section
                   12I (19) of the Income Tax Act, 1962 (Act 58 of 1962) as amended (herein after referred
                   to as the Act) and the Regulations promulgated in the Government Gazette No. 33385 of
                   23 July 2010 - hereby publishes the decision not to approve an application received for
                   the 12I Tax Allowance Programme.

Particulars of applicant

Name of applicant: Coega Fruit Terminal (Pty) Ltd.

Coega Fruit Terminal (Pty) Ltd-Cold Store and Container Depot is a Fruit Cold
                      Storage and Container Depot. The project will invest a total of R163 125 088, with
                      the value of qualifying manufacturing assets equal to R156 425 088.

Description and costs of qualifying manufacturing assets:

Assets                    Expected Date     Value of Qualifying
                                                                 of Assets In Use       Assets (R)
                        Plant & Machinery                        11 February 2021           156 425 088

Total Qualifying Assets                                             156 425 088

On 19 March 2021, I as the Minister of Trade, Industry and Competition, endorsed
                      the recommendation of the 12I Adjudication Committee meeting of 6 March 2020
                      not to approve the application of Coega Fruit Terminal (Pty) Ltd as an Industrial
                      Policy  Project  in  terms  of  Section  12I  of  the  Income  Tax  Act  and  the  relevant
                      Regulations.

Enquiries relating to this publication should be made to:

The Secretariat: 12I Tax Allowance Programme
                   Department of Trade and Industry
                   Private Bag X84
                   PRETORIA
                   0001

For attention:       Ms M Ngobeni
                   Telephone No.:       012 394 1016
                   Fax No.:             012 394 2016

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Government Notice No. 2902 of 2022

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