EDC-People Carrier Automotive Incentive Scheme
The people career Automotive incentive scheme (P-AIS) is a subcomponent of the automotive investment scheme and provides for an investment based tax-free cash incentive.
The incentive programme is available to manufacturers of people career vehicles with carrying capacities of 10 to 35 persons and a vehicle mass exceeding 2000kg. component manufacturers and tooling manufacturers supplying the heavy commercial vehicle manufacturer supply chain locally and internationally may qualify for the P-AIS. qualifying costs against which incentive benefits may be claimed include:
- Owned buildings and/or improvements to owned buildings
- New and/or second-hand, refurbished and upgraded plant, machinery and tooling
Component and tooling manufacturers may also qualify for competitiveness improvement costs where these costs may include:
- Process improvements
- Product improvements
- Quality standards
- Skills development and improvements
Qualifying manufacturers may qualify for a non-taxable cash grant of between 20% and 35% of the qualifying investment made. The application is required to be submitted at least 120 days (people carrier manufacturers) and 90 days (component manufacturers and tooling manufacturers) prior to the commissioning of the qualifying investment.
Contact EDC for more information.