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TAX LAW: DRAFT 2024/25 BILLS AND REGULATIONS OUT FOR COMMENT
- 02 August 2024
- National Treasury
- SA Legal Academy
National Treasury has called for input by 31 August 2024 on draft tax Bills and draft regulations intended to give practical effect to the 2024/25 Budget proposals. They were published on 2 August 2024 with related explanatory memoranda and a backdated media statement outlining key provisions.
- draft Revenue Laws Amendment Bill
- draft explanatory memorandum
- draft Taxation Laws Amendment Bill
- draft explanatory memorandum
- draft Tax Administration Laws Amendment Bill
- draft memorandum on its objects
- draft amendments to the carbon offset regulations
- draft explanatory memorandum
- draft regulations on the method for determining VAT liability in respect of casino table games of chance
- draft explanatory memorandum
- draft amendments to regulations on valuable metal domestic reverse charges
- draft explanatory memorandum
- draft amendments to regulations on electronic services
- draft explanatory memorandum
As the media statement explains, the next step in this public consultation process will be a call for input on the same draft tax Bills by the National Assembly and NCOP Committees on Finance.– followed by hearings. Once finalised to reflect all relevant input received, the Bills will then be formally tabled in Parliament.
The same process is expected to be followed with the draft Rates & Monetary Amounts Bill, draft Global Minimum Tax Bill and draft Global Minimum Tax Administration Bill published in February 2024 for comment.
The draft regulations will be revised to reflect input received before being gazetted for implementation.
- media statement
- SA Legal Academy report on draft Bills released in February 2024 for comment
Published by SA Legal Academy Policy Watch
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