The South African Revenue Service (SARS) has updated the corporate income tax return form (ITR14 form), allowing taxable entities to claim section 12BA allowances on 16 September 2024.
The 12BA allowance offers a 125% enhanced allowance for specific machinery and equipment used in the production of renewable energy.
The revised ITR14 form also includes sections for taxpayers to provide deduction details and answer qualifying questions.
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