South Africa Consider Tax Allowances for Energy Efficiency

ON Friday, South Africa’s Department of Energy (DOE) released proposed regulations which would provide a tax allowance for energy efficiency savings.

The regulations stipulate that any company or business holding an energy saving certificate will be able to submit this certification to the South African Revenue Service and claim the tax allowance.

The proposed regulations are now open for public comment for 60 days,

The DOE explained in a statement that in 2009 the South African National Treasury introduced a number of measures, primarily tax allowances, which would promote investment in measures to reduce greenhouse gas emissions, improve energy efficiency and the technology, infrastructure and design used by companies in the building of their facilities and plants.

The statement added that the Income Tax Act specified that the DOE should compose regulations to describe how energy saving certificates will work, hence the proposed regulations are designed to help that to be accomplished.

Picture of South Africa Cape Town by Derek Keats reproduced under CCL.

Tuesday 20th September 2011

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