PARLIAMENT: TAX, COMPANIES AND TWO OTHER BILLS PASSED BY NATIONAL ASSEMBLY

PARLIAMENT: TAX, COMPANIES AND TWO OTHER BILLS PASSED BY NATIONAL ASSEMBLY

• 30 November 2023
• Parliament
• SA Legal Academy

Please note: The report below was written before the National Assembly sitting concerned took place. According to this parliamentary media statement, all seven Bills have since been passed and sent to the NCOP for concurrence

Seven Bills are scheduled for a second reading during today’s National Assembly sitting (30 November 2023). Each is likely to be passed by majority vote and sent to the NCOP for concurrence. According to the day’s order paper, they are the:

• Rates & Monetary Amounts & Amendment of Revenue Laws Bill
• Taxation Laws Amendment Bill
• Tax Administration Laws Amendment Bill
• Companies Amendment Bill (‘B’ version)
• Companies Second Amendment Bill (‘B’ version)
• Independent Municipal Demarcation Authority Bill (‘B’ version, which at the time of writing was not available)
• South African Post Office SOC Ltd Amendment Bill (‘B’ version)

This year’s tax, rates and revenue laws amendment Bills give effect to proposals in the 2023/24 Budget.

Among other things, the Companies Amendment Bill seeks to ensure the full disclosure of executive pay packages, going some way towards addressing concerns about remuneration levels widely perceived to be excessive.

The Companies Second Amendment Bill seeks to give practical effect to Zondo State Capture Commission recommendations dealing with delinquency on the part of a company director.

Once passed, enacted and operationalised, the Independent Municipal Demarcation Authority Bill will repeal and replace the Local Government: Municipal Demarcation Act, 1998 – aligning and updating the legislative framework with prevailing practices.

Among other things, the South African Post Office SOC Ltd Amendment Bill provides for improved governance at the state-owned company, along with diversified and expanded services and a repurposed infrastructure. This is according to a memorandum on its objects.

• order paper (30 November 2023)
• Independent Municipal Demarcation Authority Bill (as originally tabled)
• parliamentary papers including committee report on changes to the Independent Municipal Demarcation Authority Bill (page 44)

Published by SA Legal Academy Policy Watch

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