Tax First Newsletter

Providing you with informed commentary on current developments in the local tax and business arena.

Our monthly analysis and comments on new law and administrative changes assist business executives to identify developments and trends in law and Inland Revenue practice that might impact their business.

Tax First November Issue

Building allowance deduction for Income Tax purposes

If you own a building and use it for purposes of your trade, the Income Tax Act allows a capital deduction under section 17(1)(f).

Twenty percent (20%) of the cost of erection may be claimed in the year during which the building is taken into use. For the next 20 years, 4% (8% for registered manufacturers) of this cost may be claimed per tax year.

Also in this issue:

  • The process of clearing consignments for home consumption and other Customs procedures codes
  • PwC Business School Training Calendar
  • New Legislation Tracker
  • Tax Calendar - November 2017

 

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Johan Nel
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Chantell Husselmann
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