Government Notice No. 2907 of 2022

Income Tax Act (58/1962), as amended » Tongaat Hulett Ltd

Title	Income Tax Act (58/1962), as amended » Tongaat Hulett Ltd
Department	Trade and Industry
Gazette	National Gazettes, No. 47789 of 23 December, 2022, 1 page(s), 45.3Kb

STAATSKOERANT, 23 DESEMbER 2022                       No. 47789    99

DEPARTMENT OF TRADE, INDUSTRY AND COMPETITION

NO.  2907                                                                          23 December 2022

SECTION 12I TAX ALLOWANCE PROGRAMME

The Minister of Trade and Industry, Mr Ebrahim Patel, in terms of section 12I(12)(a)(i)(aa)
                   and (19)d 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 to withdraw the approval of an application
                   received for the 12I Tax Allowance Programme.

Particulars of applicant

Name of applicant: Tongaat Hulett Ltd.

Tongaat Hulett Ltd was approved as a Brownfield project and awarded 7 points and
                      afforded Preferred Status.

The project would have invested a total of R525 000 000.

The  approved  amount  for  the  additional  investment  allowance  in  respect  of
                      manufacturing assets brought into use by Tongaat Hulett Ltd was R288 750 000 and
                      additional training allowance of R2 376 000, totalling R291 126 000.

On 12 October 2020 the Minister of Trade and Industry endorsed the recommendation
                      of  the  12I  Adjudication  Committee  meeting  of  10  February  2020  to  withdraw  the
                      approval of Tongaat Hulett Ltd as an Industrial Policy Project in terms of Section 12I
                      of the 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:       Mr A Potgieter
                   Telephone No.:       012 394 1427
                   E-mail:              andre@thedti.gov.za

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Government Notice No. 2907 of 2022

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