Yasmeen Suliman - Tax Director - Corporate Tax - KPMG
Five years ago, attractive Research and Development (R&D) income tax allowances were made available to those taxpayers that conducted research or were involved in devising, developing or creating any invention, design or computer program. In terms of section 11D of the Income Tax Act, taxpayers who were involved in R&D could claim a 150 percent allowance on expenditure (excluding capital expenditure) actually incurred by such taxpayers directly in respect of activities undertaken in the Republic.