The Minister of Trade and Industry, Dr Rob Davies -in terms of section 12i (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 201 0 -hereby publishes the decision to approve an application received for the 12i Tax Allowance Programme.
Sephaku Cement (Pty) Ltd-Aganang Project is a project to manufacture cement and clinker. The project will invest a total of R2 695 719 208, with the value of qualifying manufacturing assets equal to R1 749 252 808. The project is classifiable under SIC code 3424.
On 03 May 2011, I as the Minister of Trade and Industry, endorsed the recommendation of the 12-1 Adjudication Committee meeting of 31 March 2011 not to approve the application of Sephaku Cement (Pty) Ltd as an Industrial Policy Project in terms of Section 12-1 of the Act and the relevant Regulations. The project was awarded 5 points, but failed to comply with mandatory reQUirements on manufacturing assets in the Act.
Enquiries relating to this publication should be made to: The Secretariat: 12i Tax Allowance Programme Department ofTrade and Industry Private Bag X84 0001 PRETORIA For attention: Mr A Potgieter Telephone No.: 012 3941427 Fax No.