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Finance Standing Committee
PBO Director appointment; MTBPS programme
22 Oct 2019
The two Finance and the two Appropriations Committees of the National Assembly (NA) and the National Council of Provinces (NCOP) have agreed on a process to fill the vacant position of Director of the Parliamentary Budget Office. This follows a letter from the Presiding Officers of the two Houses informing ...
Finance Standing Committee
Financial Intelligence Centre 2018/19 Annual Report; with Deputy Minister
16 Oct 2019
The Standing Committee was briefed by executives of the Financial Intelligence Centre (FIC) on the FIC’s report for the 2018/19 financial year.
Opening remarks were made by the Deputy Minister of Finance, who said a key priority of the government was to fight corruption and build an ...
Finance Standing Committee
PIC on its 2018/19 Annual Report, with Deputy Minister
15 Oct 2019
Public Investment Corporation 2018/19 Annual Report 9MB
Deputy Minister of Finance, Dr David Masondo, emphasised the importance of the Public Investment Corporation (PIC) investing R2 trillion in pension savings of workers. He said a shortage of capital was one of the causes of poor economic growth. Capital growth required savings and ...
Finance Standing Committee
TLAB, TALAB, Rates Bill & Income Tax Amendment Bill: Treasury & SARS response to public submissions
18 Sep 2019
The meeting of the Standing Committee on Finance was primarily intended to hear the National Treasury’s responses to submissions made at public hearings the previous week on proposed amendments to the tax laws.
However, it started with brief submissions by Mercedes Benz South Africa and the National Association of Automobile ...
Finance Standing Committee
Nugent Commission recommendations: progress report by SARS
17 Sep 2019
Nugent Commission of Inquiry into SARS: interim findings and recommendations
The Committee was told that it would take two years to undo the damage done by the “massive failure of governance” as described by the Nugent Commission, under the former SARS Commissioner.
Treasury Deputy Director General Ismail Momoniat said both ...
Finance Standing Committee
South African Reserve Bank & Prudential Authority on 2018/19 Annual Reports
11 Sep 2019
The Committee met with the South African Reserve Bank (SARB) and the Prudential Authority (PA) for a briefing on their 2018/19 annual reports.
The Reserve Bank, in presentation, warned that risks to the SA Reserve Bank’s growth forecasts are on the downside because of uncertainty over global growth. The Bank ...
Finance Standing Committee
TLAB, TALAB, Rates Bill & Income Tax Amendment Bill: public hearings
10 Sep 2019
Some of the proposed amendments to South Africa’s tax laws were vague and too broad in their application. This was the view expressed in submissions presented at a joint hearing of the Finance Committees of the National Assembly and the National Council of Provinces to discuss the proposed changes.
Among ...
Finance Standing Committee
Steinhoff Investigation update
4 Sep 2019
Steinhoff Latest Results
Steinhoff follow-up, with DPSA Minister present – 19 March 2019
Steinhoff matters: Mr Markus Jooste – 5 September 2018
Steinhoff matter: Ben le Grange – 29 August 2018
Steinhoff: follow-up meeting – 28 March 2018
Steinhoff International challenges – 31 January 2018
The Standing Committees on ...
Finance Standing Committee
National Treasury & SARS on TLAB, TALAB, Rates Bill & Income Tax Amendment Bill
3 Sep 2019
The Standing Committee on Finance met jointly with the Select Committee on Finance for a briefing by National Treasury and the South African Revenue Service (SARS) on the 2019 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (Rates Bill); the 2019 Draft Income Tax Amendment Bill; the ...
Finance Standing Committee
Induction Workshop: Financial Advisory and Intermediary Services, IRBA, DBSA, Pension Funds Adjudicator & Land Bank
21 Aug 2019
As part of its induction workshop, the Committee received presentations from the Financial Advisory and Intermediary Services, Independent Regulatory Board for Auditors, Office of the Pension Funds Adjudicator, Development Bank of Southern Africa and the Land Bank.
All the entites presented on their roles, challenges faced and the compliance and ...