Treasury is proposing the extension of the tax incentive for industrial policy projects until end-March 2020, to allow time for it to be reviewed.The extension is for review purposes only, however, as the R20bn allocation has already been reached.The incentive, in terms of Section 12i of the Income Tax Act, is managed by the Department of Trade and Industry. It provides for an additional investment and training tax allowance for projects that meet prescribed criteria. The department will undertake a review of the effectiveness of the incentive.Treasury director for personal income tax and saving Chris Axelson told Parliament’s standing committee on finance that the limit of R20bn in allocated tax expenditure under the programme had been reached though it would only be realised over time as projects were rolled out."In order to allow sufficient time for a review of the industrial policy projects incentive to be completed, it is proposed that the window period should be extended from ...

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