TAX, RATES AND REVENUE BILLS: NCOP COMMITTEE CALLS FOR SUBMISSIONS

TAX, RATES AND REVENUE BILLS: NCOP COMMITTEE CALLS FOR SUBMISSIONS

• 11 November 2024
• Parliament
• SA Legal Academy

In anticipation of parliamentary hearings on 26 November 2024, the NCOP’s Finance Committee has called for written submissions by 22 November on six Bills tabled with the Medium Term Budget Policy Statement (MTBPS). Their purpose is to give effect to proposals in the 2024/25 Budget.

The hearings date precedes by two days the date on which the National Assembly is scheduled to consider and pass these important Bills and send them to the NCOP for concurrence – possibly reinforcing concerns about the extent to which the NCOP leg of the public participation process is simply a formality.

Before being introduced, the draft versions of all six Bills were nevertheless subjected to robust public consultations, begun by National Treasury on 21 February 2024. This process included two days of hearings in October, conducted by the National Assembly’s Standing Committee on Finance. Since then, the same committee has held hearings on the MTBPS, revised fiscal framework and revenue proposals – and has also received a response to stakeholder input from National Treasury and the South African Revenue Service.

The NCOP committee notice refers to some of each Bill’s key proposals.

• Rates and Monetary Amounts Amendment Bill
• Taxation Laws Amendment Bill
• Tax Administration Laws Amendment Bill
• Revenue Laws Amendment Bill
• Global Minimum Tax Bill
• Global Minimum Tax Administration Bill
• committee notice
• National Assembly programme 

Published by SA Legal Academy Policy Watch

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