S.L. 463.33 Art. 3BUtilisation of tax credits. 

(1) An undertaking benefiting from tax credits in terms of these regulations and the respective Guidelines, shall be entitled to deduct from the amount of income tax which is due on its chargeable income derived from its trade or business in the years of assessment following the award of the benefit an amount equivalent to the tax credit awarded.

(2) An undertaking that in any year of assessment does not utilise any tax credit awarded or deducts a value from the amount of income tax which is due on its chargeable income derived from its trade or business, that is less than the tax credit awarded shall carry forward the unutilised tax credit for that year of assessment or for subsequent years.

(3) Tax credits awarded in terms of these regulations and the respective Guidelines shall not give rise to a right to a refund of tax.