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Finance Standing Committee
Financial Intelligence Centre Amendment Bill [B33-2015]: adoption; Committee Report on Treasury Budget; Oakbay Investments
26 Apr 2016
The Committee approved the Financial Intelligence Centre Amendment Bill after an amendment change to section 40 changing "may" to "must" although subject to conditions. It also approved the Committee Report on the Treasury Budget.
In light of the potential loss of jobs due to the closure of the bank accounts ...
Finance Standing Committee
Financial Intelligence Centre Amendment Bill [B33-2015]: deliberations
20 Apr 2016
Document: Financial Intelligence Centre Amendment Bill 2016 as Amended by standing Committee on Finance (awaited)
National Treasury provided a wrap-up on the Financial Intelligence Centre Amendment Bill, stating that financial crime remains on the global and local agenda with international standards on combating financial crime evolving and the SA regulatory ...
Finance Standing Committee
Rates & Monetary Amounts and Amendment of Revenue Laws Draft Bill: National Treasury briefing
19 Apr 2016
The Standing Committee on Finance met with representatives of the National Treasury and the South African Revenue Service (SARS) to be briefed on the draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill.
National Treasury introduced the briefing by stating that the budget was being followed by four ...
Finance Standing Committee
Financial Intelligence Centre Amendment Bill [B33-2015]: deliberations continued
16 Mar 2016
Representatives of the Financial Intelligence Centre (FIC), the National Treasury (NT), banking institutions and other relevant stakeholders, attended a meeting of the Standing Committee on Finance for a clause-by-clause reading and consideration of the Financial Intelligence Centre Amendment Bill.
The Financial Intelligence Centre explained the objectives of each clause, and ...
Finance Standing Committee
Financial Intelligence Centre Amendment Bill [B33-2015]: deliberations
15 Mar 2016
The Chairperson indicated that the Committee would like the Bill completed as soon as possible, and for this reason it had been decided that the Committee's meetings with the Public Investment Corporation and Government Employees Pension Fund should be rescheduled. The DA objected to this
The Committee was taken through ...
Finance Standing Committee
Revenue Laws Amendment Bill [B4-2016]: Clause 1 amended and revised Bill adopted
10 Mar 2016
The Committee met to discuss the amendments made to the Revenue Laws Amendment Bill [B4 – 2016]. This Bill was introduced by the Minister of Finance on 24 February 2016, as a Money Bill as contemplated in section 77 of the Constitution. The purpose of the Bill is to postpone ...
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
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), ...