Transcription of DRAFT INTERPRETATION NOTE 50 (Issue 2) ACT - Juta
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DRAFT DRAFT INTERPRETATION NOTE 50 (Issue 2) DATE: ACT : INCOME TAX ACT 58 OF 1962 SECTION : SECTION 11D SUBJECT : DEDUCTIONS IN RESPECT OF SCIENTIFIC OR TECHNOLOGICAL RESEARCH AND DEVELOPMENT CONTENTS PAGE Preamble .. 3 1. Purpose .. 4 2. Background .. 4 PART A: DEFINITION OF RESEARCH AND DEVELOPMENT .. 4 3. The law .. 4 Systematic experimental or systematic investigative activities (SIE activities), the results of which are uncertain .. 6 Discovery of non-obvious scientific or technological knowledge .. 8 Discovery .. 8 Non-obvious .. 8 Scientific or technological knowledge .. 9 Creating or developing an invention, functional design, computer program or knowledge essential .. 11 Invention .. 11 Design .. 12 Computer programs .. 14 Knowledge essential .. 15 Improvements .. 16 Creating or developing a multisource pharmaceutical product.
“Interpretation is the process of attributing meaning to the words used in a document, be it legislation, some other statutory instrument, or contract, having regard to the context provided by reading the particular provision or provisions
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