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NCOP Appropriations
Municipal Infrastructure Grant monitoring and rollover management
20 Sep 2016
The briefing by the Department of Cooperative Governance (DCoG) covered expenditure performance of the Municipal Infrastructure Grant (MIG) in 2015/16; monitoring of expenditure of rollovers, and mitigation of challenges. Municipalities in North West province had an unspent balance of R238 million in June 2016. The figure for Limopo province was ...
NCOP Finance
Rates & Monetary Amounts & Amendment of Revenue Laws Bill; United Arab Emirates & Singapore Double Taxation Agreements
7 Sep 2016
National Treasury briefed the Committee on the Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bills. The presentation highlighted the tax revenue trends and 2015/16 revenue outcomes. Included in the draft bills was the tax proposals on PIT (personal income tax) particularly the partial fiscal drag relief – ...
Standing Committee on Appropriations
2017/18 Division of Revenue: Financial and Fiscal Commission Submission
6 Sep 2016
The theme of the 2017/18 FFC submission was the intergovernmental fiscal relations system and rural development. The majority of the South African poor were living in rural areas, which lagged behind on economic performance indicators. The rural economy was no longer just a farm economy. The potential of land reform ...
Finance Standing Committee
Taxation Laws Amendment & Tax Administration Laws Amendment Bill: briefing
24 Aug 2016
National Treasury briefed the Committee on the contents of the 2016 Taxation Laws Amendment Bill and Tax Administration Laws Amendment Bill. The contents highlighted included:
NCOP Finance
Financial Sector Regulation Bill [B34-2015]: National Treasury briefing
24 Aug 2016
The National Treasury briefed the Committee on the Twin Peaks: The Financial Sector Regulation (FSR) Bill. It noted that the shift to twin peaks started in 2011, when “a safer financial sector to serve South African better” policy paper was approved by the Cabinet. In 2013, the road map of ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill [B34-2015]: deliberations
17 Aug 2016
The afternoon session opened with a continuation of a discussion on the National Credit Regulator in relation to the Bill before the Committee.
The meeting then moved onto a consideration of the financial impact of the Bill. Members were concerned about the costs being transferred from the financial institutions onto ...
Finance Standing Committee
Financial Sector Regulation Bill [B34-2015]: discussion & Draft Taxation Laws Amendment Bill: National Treasury on comments received
17 Aug 2016
National Treasury presented the revised version of the Tax Bill, and took the Committee through the amended clauses of the Financial Sector Regulation Bill.
National Treasury said that the special VDP (Voluntary Disclosure Programme) would commence next year on an international spectrum and this would give SARS an insight of ...
NCOP Finance
KwaZulu-Natal on its 2015/16 unaudited Annual Report; Land Bank board appointments: deliberations
16 Aug 2016
The National Treasury made a presentation to the Committee on the provincial budgets and expenditure for KwaZulu-Natal (KZN) for the third and fourth quarters of the 2015/16 financial year. Newly identified schools and clinics had put pressure on the Public Works budget, as they had not been budgeted for. Due ...
NCOP Finance
Western Cape, Mpumalanga & Free State Provincial Treasuries on its 2015/16 performance, in presence of MECs
25 May 2016
The National Treasury firstly presented a summary of the third and fourth quarter expenditure for the provinces of Free State, Western Cape and Mpumalanga. However, it was emphasised that these figures had not yet been audited so that there might still be some adjustments. Free State spent 99% of the ...
NCOP Appropriations
Appropriation Bill: briefing & adoption; Committee Report on Municipal Infrastructure Grant rollovers
24 May 2016
The National Treasury noted that expenditure ceilings for the two outer years of the 2016 Medium Term Expenditure Framework (MTEF) period were reduced. Expenditure baselines were growing at the rate of 7.5% over the 2016 MTEF period. There was a drawdown on the contingency reserve within the expenditure ceiling. The ...