Politician Profile Page
Finance Standing Committee
“Twin Peaks” & Insurance Industry: “Twin Peaks” and the insurance industry: National Treasury & Financial Services Board briefing
1 Sep 2015
A combined team of the National Treasury and the Financial Services Board (FSB) presented. Both long and short-term insurance were prudential concerns since it guaranteed to pay a certain contracted amount when risk or commitment materialised. The current legislative framework addressed both prudential and market conduct concerns. Review of the ...
Finance Standing Committee
Retirement Reforms: workshop
26 Aug 2015
National Treasury held a workshop on Retirement Reforms, giving background on retirement and savings funds before moving on to government proposals for retirement reform. This covered initiatives to boost household savings, key problems in the system, the retirement reform policy proposals, and progress with these proposals.
The retirement reform policy ...
Finance Standing Committee
South African Revenue Service (SARS) quarterly performance
25 Aug 2015
Key activities for the SARS 2015 programme was an operating model review and an ICT and modernisation review. Objectives included to materially increase revenue, ensure strong control over border posts, and become a customer and employee centric organisation. Customs and excise would be elevated to a key priority area; SARS ...
Finance Standing Committee
Taxation Laws Amendment Bill & Taxation Administration Laws Amendment Bill: workshop
18 Aug 2015
National Treasury and the South African Revenue Service (SARS) held a workshop with the Committee on the Draft Taxation Laws Amendment Bill (TLAB) and the Taxation Administration Laws Amendment Bill (TALAB). Discussions on the draft TLAB covered general business taxes, personal income tax, taxation of financial institutions and products; tax ...
Finance Standing Committee
Kuwait, Luxembourg, Netherlands, Switzerland Protocols, Andorra & and Macao Tax Information Exchange Agreement (TIEA): briefings
17 Aug 2015
The National Treasury briefed the Committee on double taxation agreements (DTAs) with Kuwait, Switzerland, Netherlands and Luxembourg. The purpose of tax treaties was to prevent double taxation of the same income, to create fiscal stability and to prevent tax avoidance and evasion. The tax profile of a treaty country took ...
Finance Standing Committee
State Owned Enterprises Programme Report: Parliamentary Budget Office (PBO) briefing
12 Aug 2015
The Parliamentary Budget Office (PBO) gave a presentation to the Standing Committee on Finance and the Portfolio Committee on Public Enterprises on the PBO Report on State Owned Enterprises (SOEs) commissioned by the Standing Committee on Finance and which was published in March 2015.
The presentation gave some background on ...
Finance Standing Committee
“Twin Peaks” legislation: briefing by National Treasury
11 Aug 2015
The 2008 global financial crisis proved that big benefits were associated with the financial sector, but also big risks. Financial sector regulation had to be intrusive, intensive and effective to make the financial sector safer. South Africa had opted for the Twin Peaks model to shift from a banking and ...
Finance Standing Committee
Financial Sector Assessment Programme: National Treasury & International Monetary Fund briefings
5 Aug 2015
The National Treasury gave a contextual background to the Financial Sector Assessment Programme (FSAP) of South Africa, which was undertaken in 2014. This was supported by a presentation by a representative of the International Monetary Fund, who explained what the FSAP was. Following the 2008 global financial crisis, South Africa, ...
Finance Standing Committee
Taxation Laws Amendment Bill & Tax Administration Laws Amendment Bill: informal briefing on draft bills
4 Aug 2015
The Department of Science and Technology provided an update on processing of applications for the Research and Development (R&D) tax incentive. The R&D tax incentive was part of a package of policy instruments to promote economic growth and enhance competitiveness. South Africa offered generous R&D tax incentives, offering up to ...
Public Accounts (SCOPA)
Department of Correctional Services: 2013/14 Audit: hearings continued, with Department of Public Works input on facilities; Deputy Ministers of Correctional Services & Public Works in attendance
24 Jun 2015
The Committee resumed its hearing on the 2013/14 Annual Report of the Department of Correctional Services (DCS). The Department of Public Works (DPW) was also asked to comment on certain issues around the facilities. The Deputy Ministers of Public Works and Correctional Services were both present and gave input, as ...