South Africa: Tax incentives for businesses - KPMG Global
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South Africa: Tax incentives for businesses

South Africa: Tax incentives for businesses

The 2019 budget proposals do not propose increasing taxes in any category. However, the introduction of a carbon tax (effective 1 June 2019) and increases in, for example, the fuel levy affects all areas of the economy.

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Nevertheless, relief is available to businesses in the form of incentives such as:

  • Industrialisation incentive allocations of R19.8 billion, with R600 million for a clothing and textile competitiveness program
  • Extension of a young workers incentive program (employment tax incentive) to February 2029
  • Special economic zone incentives, with taxpayers in these zones entitled to a reduced corporate income tax rate of 15%
  • Extension of an energy efficiency savings tax incentive through 2022

 

Read a February 2019 report [PDF 131 KB] prepared by the KPMG member firm in South Africa

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