A critical analysis of the fiscal incentives offered to a particular South African Special Economic Zones

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dc.contributor.advisorWarneke, Daviden_ZA
dc.contributor.authorSaggers, Graeme Donalden_ZA
dc.date.accessioned2016-02-08T07:21:29Z
dc.date.available2016-02-08T07:21:29Z
dc.date.issued2015en_ZA
dc.descriptionIncludes bibliographical referencesen_ZA
dc.description.abstractSpecial Economic Zones ("SEZs") have proved an effective tool to encourage and incentivise foreign direct investment in developing countries over the past 50 years. South Africa has been a relatively late adopter of an SEZ regime and only formally incorporated SEZs via the Industrial Development Zone ("IDZ") programme in late 2000. The ID programme has been largely unsuccessful with limited and slow investment. This has resulted in an overhaul of the programme resulting in the launch of the SEZ programme in2012 which included the promulgation of the Special Economic Zones Act and a suite of new tax incentives which were announced in the 2013 Taxation Laws Amendment Act. This study was performed in order to analyse the fiscal incentives available to South African SEZs against the backdrop of successes and failures experienced by other developing nations with more mature SEZ regimes. By firstly reviewing the history of SEZs internationally, context was provided which indicated the need for a successful SEZ programme in South Africa. As globalisation has developed in the modern era, so too has competition for foreign direct investment amongst developing nations. It is thus of paramount importance for South Africa, as late adopters, to ensure that their SEZ programme is designed appropriately. A detailed analysis of each tax incentive was performed which illustrated where opportunities can be found by foreign investors and additionally highlighted some disincentives in the South African regime. A review of the main incentives offered by the more developed and successful developing nations (Brazil, Russia, India and China) identified certain opportunities where South Africa could learn from the successes and failures of these countries. Further, some specific case studies were analysed in order to glean risks to the sustainability of South Africa's SEZ programme. From these reviews and comparisons it was found that whilst it may not be possible to predict whether or not South Africa's SEZ programme will be successful, there are some areas where it is suggested that the current fiscal incentives can be enhanced to encourage quicker investment by foreign companies and the creation of investment which has a sustainable benefit to the local economy.en_ZA
dc.identifier.apacitationSaggers, G. D. (2015). <i>A critical analysis of the fiscal incentives offered to a particular South African Special Economic Zones</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax. Retrieved from http://hdl.handle.net/11427/16869en_ZA
dc.identifier.chicagocitationSaggers, Graeme Donald. <i>"A critical analysis of the fiscal incentives offered to a particular South African Special Economic Zones."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2015. http://hdl.handle.net/11427/16869en_ZA
dc.identifier.citationSaggers, G. 2015. A critical analysis of the fiscal incentives offered to a particular South African Special Economic Zones. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Saggers, Graeme Donald AB - Special Economic Zones ("SEZs") have proved an effective tool to encourage and incentivise foreign direct investment in developing countries over the past 50 years. South Africa has been a relatively late adopter of an SEZ regime and only formally incorporated SEZs via the Industrial Development Zone ("IDZ") programme in late 2000. The ID programme has been largely unsuccessful with limited and slow investment. This has resulted in an overhaul of the programme resulting in the launch of the SEZ programme in2012 which included the promulgation of the Special Economic Zones Act and a suite of new tax incentives which were announced in the 2013 Taxation Laws Amendment Act. This study was performed in order to analyse the fiscal incentives available to South African SEZs against the backdrop of successes and failures experienced by other developing nations with more mature SEZ regimes. By firstly reviewing the history of SEZs internationally, context was provided which indicated the need for a successful SEZ programme in South Africa. As globalisation has developed in the modern era, so too has competition for foreign direct investment amongst developing nations. It is thus of paramount importance for South Africa, as late adopters, to ensure that their SEZ programme is designed appropriately. A detailed analysis of each tax incentive was performed which illustrated where opportunities can be found by foreign investors and additionally highlighted some disincentives in the South African regime. A review of the main incentives offered by the more developed and successful developing nations (Brazil, Russia, India and China) identified certain opportunities where South Africa could learn from the successes and failures of these countries. Further, some specific case studies were analysed in order to glean risks to the sustainability of South Africa's SEZ programme. From these reviews and comparisons it was found that whilst it may not be possible to predict whether or not South Africa's SEZ programme will be successful, there are some areas where it is suggested that the current fiscal incentives can be enhanced to encourage quicker investment by foreign companies and the creation of investment which has a sustainable benefit to the local economy. DA - 2015 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2015 T1 - A critical analysis of the fiscal incentives offered to a particular South African Special Economic Zones TI - A critical analysis of the fiscal incentives offered to a particular South African Special Economic Zones UR - http://hdl.handle.net/11427/16869 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/16869
dc.identifier.vancouvercitationSaggers GD. A critical analysis of the fiscal incentives offered to a particular South African Special Economic Zones. [Thesis]. University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2015 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/16869en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentDepartment of Finance and Taxen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherTaxationen_ZA
dc.titleA critical analysis of the fiscal incentives offered to a particular South African Special Economic Zonesen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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