A major, regional services hub for the oil and gas industry; and
As the ideal location from which foreign oil and gas companies can service their operations in Africa, in particular sub-Saharan Africa.
One of the ways to encourage oil and gas investment into SA, is by providing a favourable tax regime for these companies. While the Tenth Schedule is relatively new and the efficacy of its practical application should still be tested in many ways, various positive tax amendments have been effected to it over the past few years to ensure that all oil and gas companies do actually benefit in the manner intended by the tax rules. The schedule currently offers significant preferential tax treatments to oil and gas companies, but there are also various issues which taxpayers should be aware of to avoid tax pitfalls.
This schedule, which aims to act as