High Tech Industry

High tech related business are characterised as engaging in promoted operations or in the manufacture of promoted goods.

High technology businesses can apply for the following incentives:

  • Pioneer Status with full tax exemption at statutory income level for a period of five years
  • Investment Tax Allowance of 60% on qualifying capital expenditure incurred within a period of five years

A high tech firm is required to meet the following criteria:

  • Local research and development expenditure to gross sales should be at least 1% on a yearly basis. Businesses are allowed, however, a time of three years from the start-date of operation to oblige this necessity
  • The amount of science and technical graduates to the labour force should be at least 7%
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