REVISED TAX, REVENUE AND RELATED BILLS TABLED

REVISED TAX, REVENUE AND RELATED BILLS TABLED

• 01 November 2023
• Parliament
• SA Legal Academy

The following Bills were tabled in Parliament with the Medium Term Budget Policy Statement (MTBPS), having been released in draft form for public comment. At the time they reflected proposals in the 2023/24 Budget. Following recent parliamentary hearings, the Bills were revised to accommodate stakeholder recommendations where appropriate:

• Rates & Monetary Amounts & Amendment of Revenue Laws Bill (released in draft form in February 2023; revised draft published in July 2023)
• Taxation Laws Amendment Bill (released in draft form in April 2023; revised draft published in July 2023)
• Tax Administration Laws Amendment Bill (released in draft form in July 2023)
• Revenue Laws Amendment Bill (focusing on retirement reform; released in draft form in June 2023)

Also tabled with the MTBPS were:

• the Eskom Debt Relief Amendment Bill, proposing amendments to the 2023 Act to:
  • provide for the payment of interest by Eskom on amounts advanced as a loan, and
  • enable the Minister of Finance to reduce allocations to Eskom should it fail to comply with loan conditions.
• the Adjustments Appropriation Bill (informed by the budgetary review process, this Bill proposes adjustments to the 2023 Act, which came into force in January and allocated funds to each national department as well as any entities within its jurisdiction), and
• the Division of Revenue Amendment Bill (informed by developments since the 2023 Act came into effect in January, this Bill proposes adjustments to the Act’s provisions equitably dividing national revenue between national, provincial and local governments as proposed in the 2023/24 Budget).

Published by SA Legal Academy Policy Watch

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