South Africa Tax Agency Issues Guide on Solar Energy Tax Credit Requirements

The South African Revenue Service March 8 issued a guide on the requirements for claiming the individual income tax solar energy tax credit for qualifying solar photovoltaic (PV) panels, under Section 6C of the Income Tax Act. The guide clarifies: 1) the refundable credit is for up to 25 percent of the costs of “new and unused” solar PV panels with a minimum capacity of 275W each, and is capped at 15,000 South African rand (US$803); 2) the credit applies for panels utilized for the first time by the individual on or after March 1, 2023, and before March 1, ...