Finance Standing Committee
Taxation Laws Amendment & Tax Administration Laws Amendment Bill: response to submissions; Revenue Laws Amendment Bill: update
21 Sep 2016
Introduction
The Chairperson noted his dissatisfaction with comments made by Mr D Maynier (DA) to the effect that the Financial Services Board and South African Revenue Service were being summonsed before the Committee. The Chairperson emphasised that regardless of Mr Maynier being a shadow Minister he had no more status ...
Finance Standing Committee
Progress report and preliminary financial results: South African Airways briefing, with Deputy Minister present
20 Sep 2016
The meeting involved a presentation by the board of South African Airways (SAA) to the Standing Committee on Finance (SCOF) followed by a question and response session including input from the National Treasury (NT). The presentation included a progress report and preliminary financial results for the 2014/2015 and 2015/2016 financial ...
Finance Standing Committee
Financial Sector Regulation Bill [B34-2015]: deliberations on Chapters 11-13, Chapter 1 definitions; Schedules 1-4
20 Sep 2016
The Chairperson reported to the Committee about a letter he had received from Mr Maynier of the Democratic Alliance regarding the SARS senior official being investigated whereby SARS Commissioner, Tom Moyane, when appearing before this committee on 14 September, had replied that the matter was confidential.
The Committee argued ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill [B34-2015]: chapters 14 & 15
14 Sep 2016
The Committee continued its preliminary clause by clause deliberations on the Financial Sector Regulation “Twin Peaks” Bill, covering clauses 211 to 237. The Committee considered the July version of the bill, while also reviewing the updates contained in the August version, with National Treasury regularly indicating changes and the final ...
Finance Standing Committee
Draft Taxation Laws Amendment Bill & Tax Administration Laws Amendment Bill: public hearings
14 Sep 2016
The draft Taxation Laws Amendment Bill (TLAB) and Tax Administration Laws Amendment Bill (TALAB) came under close scrutiny from a wide range of stakeholders from the public and private financial sectors, and a number of proposals for changes to the amendments were put forward. Much of the focus was on ...
Finance Standing Committee
Draft Rates and Monetary Amounts & Taxation Laws Amendment Bill: response to submissions & REDISA; Double Taxation Agreements
7 Sep 2016
National Treasury presented a policy overview on Double Tax Agreements and the specifics on the particular treaties and protocols before the Committee.
The South African Revenue Service (SARS) presented the key articles of three Double Tax Agreements: United Arab Emirates, Singapore and Zimbabwe. The differences between articles dealing with the ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill: deliberations
6 Sep 2016
The Department of Treasury, the Reserve Bank, and the Financial Services Board deliberated with committee members on the Financial Sector Regulation Bill. Starting from Chapter nine, the deliberations centred on legal professional privilege, on-site inspections, change of ‘designated authority’ to ‘the responsible authority,’ rational exercise of discretion by the responsible ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill [B34-2015]: JSE submission & deliberations; Land Bank board nomination
31 Aug 2016
The Committee approved its Report on nominating candidates for appointment to the Board of the Land Bank. It noted in the Report that Parliament was also asked to act merely as a post box in the process of receiving nominations but it did not have a say in recommending who ...
Finance Standing Committee
Rates and Monetary Amounts and Amendment of Revenue Laws Bill: public hearings
30 Aug 2016
The submission by the Recycling and Economic Development Initiative of South Africa (REDISA) focused on the possible effects of the environmental levy on tyres at R2.30/kg of tyre as proposed by the National Treasury. Speakers from REDISA highlighted that the change proposed would halt a significant portion of the funds ...
Appointment of Public Protector
Committee Report on Nomination of Public Protector appointment
30 Aug 2016
The Committee finalised and adopted its Committee Report with minor amendments. The report was The report would be presented to the National Assembly on Wednesday, 7 September 2016.