Finance Standing Committee
Rates and Monetary Amounts and Amendment of Revenue Laws Bill [B15-2015]: hearings & discussion
17 Jun 2015
The meeting was scheduled for public hearings, but the only submissions received were two letters from individuals, which the Chairperson insisted had to be replied to. The Chairperson remarked that the Bill was not controversial. There was a clause by clause read through by Treasury, with a few comments made ...
Finance Standing Committee
Davis Tax Committee: update by Judge Dennis Davis
10 Jun 2015
Judge Dennis Davis, Chairperson of the Davis Tax Committee (DTC), noted that the DTC was introduced in July 2013, by the then Minister of Finance. The mandate of the DTC covered every aspect of tax policy. Terms of reference were framed against the backdrop of the National Development Plan. The ...
Finance Standing Committee
SARS 2015 programme: progress report; Committee Report on BRICS New Development Bank agreement
3 Jun 2015
The Chairperson remarked that no-one, including government, really knew what the NDB would turn out to be. Yet the Committee recognised the role the bank could play to mobilise resources for infrastructure. The Committee would stress the importance of the NDB local office in South Africa, and the Development Bank ...
Finance Standing Committee
New Development Bank; Update on Twin Peaks & Market Conduct Framework: National Treasury briefing
2 Jun 2015
National Treasury said South Africa had too many regulators involved with the financial sector. Most financial firms were regulated by a number of financial regulators. The major banks in SA were regulated by the SA Reserve Bank (SARB), the Financial Services Board (FSB), the Financial Intelligence Centre (FIC) and the ...
Finance Standing Committee
BRICS New Development Bank: input from Centre for Applied Legal Studies & Financial and Fiscal Commission
27 May 2015
A sum of R50 billion is invested in bonds in foreign countries. The Director-General of the National Treasury revealed this during a discussion in Parliament during a joint meeting of the Standing Committee on Finance and Select Committee on Finance. The two Committees were listening to submissions regarding the New ...
Finance Standing Committee
Base Erosion and Profit Sharing (BEPS) Report: Parliamentary Budget Office briefing
20 May 2015
The Portfolio Committee on Trade and Industry, the Standing Committee on Finance and the Portfolio Committee on Mineral Resources held a joint meeting to discuss a research paper presented by the Parliamentary Budget Office (PBO) on Base Erosion and Profit Sharing (BEPS). The joint meeting was led by the Chairperson ...
Finance Standing Committee
BRICS New Development Bank & Contingent Reserve Arrangement agreements; FFC 4th quarter performance; Transfer pricing: EFF submission; Tax treaties: Cyprus, Lesotho, Hong Kong, Qatar, Cameroon, Granada, Zimbabwe, Singapore
19 May 2015
The Parliamentary Budget Office (PBO) presented on the BRICS New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA). There were legitimate practices related to international treaties that could limit oversight of public finances. The National Treasury had identified risks and benefits related to the BRICS NDB. Only 50% of ...
Finance Standing Committee
National Treasury on its 4th quarter 2014/15 performance
12 May 2015
National Treasury presented its quarterly report on spending for 2014/15. Treasury contributed to the government outcome of creating a better South Africa and a better Africa by participating in the creation of the BRICS New Development Bank; working with the Department of International Relations, and sitting on the board of ...
Finance Standing Committee
Committee Reports on National Treasury, SARS & Statistics South Africa budgets
5 May 2015
Observations and recommendations in the report on Statistics South Africa’s Strategic Plan and Annual Performance Plan were presented individually by the Chairperson for Members to consider. The report as a whole was adopted.
Recommendations in the report on the National Treasury and South African Revenue Services Strategic and Annual Performance ...
Finance Standing Committee
Statistics South on its Annual Performance and Strategic Plan 2015/16
29 Apr 2015
The Standing Committee on Finance received a briefing from Statistics South Africa (Stats SA) on its Annual Performance Plan (APP) and Strategic Plan for 2015/16. The Statistician-General highlighted figures in regard to employment, noting an increase from the previous quarter, and highlighted the particular figures in relation to the formal ...