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NCOP Appropriations
How Local Government & Provincial Equitable Share Formulas work: Treasury briefing; Stoppage of Local Government Equitable Share to 60 municipalities: FFC briefing
13 May 2015
National Treasury
Treasury said that local government and provinces were entitled to the equitable share to provide basic services and perform prescribed functions. Budgetary conditions were set as well others requirements to ensure the money was used as allocated. There were controls over how the money was spent based on ...
NCOP Finance
Auditing Profession Amendment Bill: National Treasury briefing & adoption; Banks Amendment Bill, Financial &Fiscal Commission Amendment Bill: National Treasury briefings
6 May 2015
National Treasury presented a briefing on the Auditing Profession Amendment Bill. Auditors were regulated by the Independent Regulatory Board for Auditors (IRBA), whose primary objective was to protect the public through the regulation of the auditing profession. The objects of the Amendment Bill were to provide for the regulation of ...
NCOP Finance
National Treasury briefings: Tax treaties & double-taxation agreements with Cameroon, Qatar, Hong Kong, Lesotho, Cyprus; Exchange Information agreement with Grenada; BRICS New Development Bank & Contingent Reserve Arrangement
28 Apr 2015
National Treasury briefed the Committee on the purpose and effect of tax treaties, protocols and double taxation agreements in general, pointing out where these were authorised by the Constitution, what the requirements were, particularly the requirement that they be ratified by Parliament, and how any tax treaties so adopted were ...
NCOP Appropriations
Division of Revenue Bill [B5-2015] negotiating mandates: National Treasury response; Final mandates
28 Apr 2015
National Treasury responded to comment and recommendations made by Eastern Cape, Free State, Gauteng, Limpopo and Mpumalanga Negotiating Mandates.
In the discussion that followed, Members suggested that perhaps provincial legislatures needed to meet with the Financial Fiscal Commission more than once a year. There seemed to be divergent views amongst ...
NCOP Finance
Minister of Finance update on Termination of Limpopo Province Section 100(1)(b) Intervention
22 Apr 2015
The Minister of Finance and the Chief Administrator briefed the Committee on issues contained in the Select Committee Report on the Section 100(1) Intervention in Limpopo Province. The purpose of the briefing was to provide feedback about the Committee’s observations. The importance of making the distinction between section 100(1)(b) and ...
NCOP Appropriations
Division of Revenue Bill [B5-2015]: Treasury response to submissions; negotiating mandates
21 Apr 2015
The Committee considered responses by National Treasury to submissions on the Division of Revenue Bill. Members were encouraged to comment on the responses given. Concern was raised about the practice of National Treasury to withhold funds from municipalities that were not paying creditors such as Eskom and water boards. The ...
Finance Standing Committee
Committee Report on Fiscal Framework and Revenue Proposals: consideration and adoption
5 Mar 2015
The Standing Committee and Select Committees on Finance adopted the draft report on the Fiscal Framework and Revenue Proposals relating to the 2015 Budget. The draft report was adopted with amendments. The amendment related to tightening and rewording recommendation 4.18 that proposed centralised procurement. Members also agreed that a new ...
Finance Standing Committee
Fiscal Framework and Revenue Proposals: public hearings
4 Mar 2015
The Standing Committee on Finance and the Select Committee on Finance held a joint meeting to hear public comment by various institutions and labour federations on the Fiscal Framework and Revenue Proposals.
The South African Institute of Chartered Accountants (SAICA) commended the Finance Minister and his National Treasury team for ...
Finance Standing Committee
Fiscal framework and revenue proposals; Division of Revenue Bill: Parliamentary Budget Office briefing
3 Mar 2015
The Parliamentary Budget Office (PBO) presented under various headings:
▪ Fiscal Framework: Budget 2015 recognised that the counter-cyclical approach had reached its limits. Fiscal consolidation could no longer be postponed. The current fiscal package was designed to narrow the deficit and stabilise debt. The poor could face the effects of ...
Standing Committee on Appropriations
Division of Revenue Bill [B5-2015]; Appropriations Bill [B6-2015]: briefing
27 Feb 2015
A delegation of senior staff from the National Treasury briefed the Joint Meeting of the Select Committee on Appropriations and the Standing Committee on Appropriations on the 2015 Division of Revenue Bill and the 2015 Appropriations Bill. A joint meeting of the Select and Standing Committees on Appropriations to interrogate ...