Page 22 - SAIT Compendium 2016 Volume2

Tax holiday
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INCOME TAX ACT: REGULATIONS ANd NOTICES
Tax holiday
Manufacture of tanks, reservoirs and similar containers of metal.
Manufacture of steam generators, except central heating hot water boilers.
Manufacture of cutlery, hand tools and general hardware.
Manufacture of other fabricated metal products not elsewhere classi ed.
Manufacture of engines and turbines, except aircraft, vehicle and motor cycle engines.
Manufacture of pumps, compressors, taps and valves.
Manufacture of bearings, gears, gearing and driving elements.
Manufacture of ovens, furnaces and fumace burners.
Manufacture of lifting and handling equipment.
Manufacture of other general purpose machinery.
Manufacture of agricultural and forestry machinery.
Manufacture of machine-tools.
Manufacture of machinery for metallurgy.
Manufacture of machinery for mining, quarrying and construction.
Manufacture of machinery for food, beverage and tobacco processing.
Manufacture of machinery for textile, apparel and leather production.
Manufacture of other special purpose machinery.
Manufacture of household appliances not elsewhere classi ed.
Manufacture of of ce, accounting and computing machinery.
Manufacture of electric motors, generators and transformers.
Manufacture of electricity distribution and control apparatus.
Manufacture of insulated wire and cable.
Manufacture of accumulators, primary cells and primary batteries.
Manufacture of other electrical equipment not elsewhere classi ed.
Manufacture of electronic valves and tubes and other electronic components.
Manufacture of television and radio transmitters and apparatus for line telephony and line telegraphy. Manufacture of television and radio receivers, sound or video recording or reproducing apparatus and associated goods.
Manufacture of medical and surgical equipment and orthopaedic appliances.
Manufacture of instruments and appliances for measuring, checking, testing, navigating and for other purposes, except industrial process control equipment.
Manufacture of industrial process control equipment.
Manufacture of optical instruments and photographic equipment.
Manufacture of watches and clocks.
Manufacture of motor vehicles.
Manufacture of bodies (coachwork) for motor vehicles; manufacture of trailers and semi-trailers. Manufacture of parts and accessories for motor vehicles and their engines.
Building and repairing of ships.
Building and repairing of pleasure and sporting boats.
Manufacture of railway and tramway locomotives and rolling stock.
Manufacture of aircraft and spacecraft.
Manufacture of motor cycles.
Manufacture of bicycles and invalid carriages.
Manufacture of other transport equipment not elsewhere classi ed.
Manufacture of furniture.
Manufacture of jewellery and related articles.
Manufacture of musical instruments.
Manufacture of sports goods.
Manufacture of games and toys.
Other manufacturing not elsewhere classi ed.
5 Ratio of human resource remuneration to value added
(1) The ratio of human resource remuneration to value added shall be determined in accordance with the following formula:
V 5 B 3 100 A+ B
in which formula—
(a) ‘V’ is the percentage to be determined;
(b) ‘A’ is the gross operating surplus determined in accordance with Part A of Table 1; and
(c) ‘B’ is the total human resource remuneration determined in accordance with Part B of Table 1.
(2) To qualify for purposes of the human resource component, such percentage shall exceed 55 per cent and be re ected in the application.
(3) Where the project consists of more than one component, one of which is the human resource component—
(a) such percentage shall be maintained for a period of two years during the tax holiday status attributable to the
certi cation by the Board of the other component of the qualifying project of a qualifying company; or
(b) such percentage shall be maintained for a period of four years during the tax holiday status attributable to the
certi cation by the Board of the other two components of the qualifying project of a qualifying company.
14 SAIT CompendIum oF TAx LegISLATIon VoLume 2