Income Tax Act, 1962 (Act No. 58 of 1962)RegulationsRegulations made under Section 12I4. Point system for qualifying as an industrial policy project |
Points system
In terms of section 12I(8), the Minister of Trade and Industry must, after taking into account the recommendations of the adjudication committee, approve an industrial project as—
| (a) | an industrial policy project where that industrial project achieves at least— |
| (i) | five out of the 10 potential points in terms of the criteria contemplated in section 12I(8); and |
| (ii) | two out of the four points in terms of the direct employment creation and the skills development criteria contemplated in section 12I(8)(d) and (e); and |
| (b) | an industrial policy project having preferred status, where the industrial project achieves at least eight out of the 10 potential points in terms of the criteria contemplated in section 12I(8). |