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Finance Standing Committee
Revenue Laws Amendment Bill [B4-2016]: NUMSA, COSATU, ASISA concerns
8 Mar 2016
The meeting was held to deal with the recent Revenue Laws Amendment Bill and the two-year delay on compulsory annuitisation of provident funds. The Chairperson noted that this is particularly important to unions and a sensitive matter with regard to savings and taxation. The major disagreements in the meeting were ...
Finance Standing Committee
Finance Committee Report on 2016 Budget
8 Mar 2016
The joint committee meeting with the Standing Committee and Select Committee on Finance was held to discuss their considerations of the 2016 Budget Committee Report. Among some of the points raised were:
• The need for National Treasury to provide the relevant information, assuming it was not market sensitive, to ...
Finance Standing Committee
2016 Budget: National Treasury responses & further clarification
4 Mar 2016
The National Treasurer gave responses questions raised at public hearings, and provided further clarifications on the budget. He noted that the Office of the National Treasury had received enormous inputs and comments in the aftermath of the 2016 budget speech. Questions were responded to without making reference to them, because ...
Finance Standing Committee
Revenue Laws Amendment Bill [B4-2016]: public hearings; Treasury, COSATU, ASISA submissions
3 Mar 2016
Co-Chairperson Mr Y Carrim (ANC) read out a statement, which drew heavily from the November 2015 Report of the Standing Committee on Finance to the National Assembly, on behalf of the Standing Committee. This statement mainly dealt with allegations that there had been insufficient or no consultation by that Committee ...
Finance Standing Committee
2016 Budget: Public hearings
2 Mar 2016
The joint sitting of the Standing and Select Committees on Finance heard submissions from six entities on the Revenue Laws Amendment Bill. The entities were the Congress of South African Trade Unions (COSATU), the Witwatersrand University’s School of Economics and Business Science, the Federation of Unions of South Africa (FEDUSA), ...
Standing Committee on Appropriations
Division of Revenue Bill [B2-2016]: National Treasury briefing
26 Feb 2016
At the outset, the Democratic Alliance Members raising concerns whether this meeting was properly called, in terms of the Constitution and the Money Bills Amendment Procedure and Related Matters Act (the Money Bills Act). They asserted that Parliament should only consider the Division of Revenue Bill after the adoption of ...
Finance Standing Committee
Pre-Budget presentation by Parliamentary Budget Office; South African Economic Update: World Bank briefing
17 Feb 2016
The Parliamentary Budget Office (PBO) provided pre-budget analysis of the macro-economic background and the fiscal framework for 2016, to a joint meeting attended by the Standing and Select Committees on Appropriations and the Standing and Select Committees on Finance.
The Office discussed South Africa’s difficult economic climate, noting revised downward ...
NCOP Finance
Land Bank on their Corporate Plan for 2015/16 – 2017/18 briefing
16 Feb 2016
Land Bank briefed the Committee on its Corporate Plan. It noted that it shares characteristics of both a commercial bank and a Development Finance Institution(DFI). It would be meeting in the following week to approve the final Corporate Plan, which would be subject to approval of the National Treasury (NT). ...
NCOP Finance
Progress made with regards to implementation of Memorandum of Agreement (MOA): Monitoring and Evaluation Committee (former Limpopo Administrators) briefing
2 Feb 2016
The MEC for Treasury (in Limpopo) informed the Committee that Limpopo had moved from a section 100(1)(b) intervention to section 100(1)(b) in 2014 for all five government departments, according to a Cabinet decision. There had been a R2.1 billion overdraft in December 2011, but the cash situation was currently stable. ...
NCOP Finance
Taxation Laws Amendment Bill [B29B-15]; Tax Administration Laws Amendment Bill [B30-15]: briefing & adoption; Committee Report on Limpopo oversight visit
27 Nov 2015
The Committee heard a joint presentation from National Treasury and the South African Revenue Service on the Taxation Laws Amendment Bill [B29B-2015] and the Tax Administration Laws Amendment Bill [B30-2015]. The presentation dealt with changes to the law in the areas of general business taxes, taxation of financial institutions and ...