DTI – 12i Incentive Prefferred Status Approval

7th July 2011

RNRF has recently been awarded Preferred Status by the DTI in terms of section 12I of the Income Tax Act.

Section 12 I makes provision for an approved company with Preferred Status to deduct an amount equal to 55% of the cost of any new and unused manufacturing asset used in an industrial policy project in the year of assessment during which the asset is first brought into use.