The incentive is aimed at encouraging private sector businesses to invest in and conduct R&D in South Africa. With increased R&D, businesses can enhance innovative capability and create new products, processes, devices and techniques, and/or improve existing ones.
The 12I TAI is designed to support Greenfield investments (i.e. new industrial projects that utilise only new and unused manufacturing assets), as well as Brownfield investments (i.e. expansions or upgrades of existing industrial projects).