Hon Chair, may I indicate that I may not read the entire statement but request that it be recorded in full in Hansard. The Rates and Monetary Amounts and Amendment of Revenue Laws Bill deals only with changes to the tax rate and monetary thresholds. As a result of those changes, this Bill provides an amendment to the Income Tax Act of 1962, in order to fix the rate of normal tax.
The Bill also provides amendments to the Customs and Excise Act of 1964 in order to amend the rates of the duty in Schedule 1 and to provide for matters connected therewith. The Select Committee on Finance, having considered the Rates and Monetary Amounts and Amendments of Revenue Laws Bill [B10 - 2012] referred to it and classified by the Joint Tagging Mechanism as a Section 77 Bill, recommends that the House, in terms of Section 75 (1) of the Constitution of the Republic of South Africa, approve the Bill without amendments. I so move.
Debate concluded.
Question put.
Declarations of vote: