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TAX BILLS LEAVE PARLIAMENT
- 09 December 2024
- Parliament
- SA Legal Academy
Please note: 1) Parliamentary papers have confirmed that, on 10 December 2024, the NCOP passed the Special Appropriation Bill. It is now awaiting presidential signature. The Bill allocates extraordinary additional revenue to the Presidency, the Department of Justice & Constitutional Development, the Department of International Relations & Co-operation, and the Department of Transport 2) On 11 December 2024, Parliament issued a media statement confirming that the Adjustments Appropriation Bill has been passed and sent to the President for signature. The Bill adjusts the amount of money originally appropriated to national government departments and some state institutions for 2024/25.
Parliamentary papers have confirmed that seven of the nine tax and revenue Bills tabled in October 2024 have been passed and are now waiting to be signed into law. No changes have been made to any of these BIlls.
- Rates & Monetary Amounts Amendment Bill (providing for amendments to Schedule 1 of the Customs & Excise Act, 1964, as well as the Carbon Tax Act, 2019)
- Taxation Laws Amendment Bill
- Tax Administration Laws Amendment Bill
- Global Minimum Tax Bill (providing for the introduction of global anti-base erosion rules and the imposition of top-up tax)
- Global Minimum Tax Administration Bill (providing for the administration of the global minimum tax)
- Revenue Laws Amendment Bill (among other things providing for amendments to the Skills Development Levies Act, 1999, and the Unemployment Insurance Contributions Act, 2002)
- Division of Revenue Amendment Bill (providing for the equitable division of revenue raised nationally among the three speres of government for 2024/25)
Now before the NCOP’s Appropriations Committee, the Adjustments Appropriation Bill and Special Appropriation Bill are expected to be passed this week.
Published by SA Legal Academy Policy Watch
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