The Tax Legislative Cycle
Presenters : Adv Christel van Wyk
Overview
This webinar provides a thorough overview of the South African tax legislative cycle, detailing its 10-month process from the budget review stage to the finalisation stage of tax-related bills.
Attendees will gain insights into how SARS and the National Treasury collaborate to draft, revise, and release legislative documents, including discussion papers, response documents, and bills, as well as the crucial roles of public consultation and parliamentary approval. This cycle reflects South Africa's ongoing fiscal adjustments, aimed at enhancing economic stability and transparency.
You are invited to join Adv. Christel van Wyk for an insightful session on the tax legislative cycle, covering policy development, legislative drafting, and collaboration between SARS, National Treasury, and Parliament.
Learning objectives
Attending this webinar will equip you with the following skills:
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Understanding the stages and timeline of the South African tax legislative process, including how policies transition from proposals to enforceable laws. R
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Recognising the roles and contributions of key stakeholders, such as SARS, National Treasury, and Parliament, in shaping, drafting, and approving tax legislation.
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Identifying opportunities for public participation and submissions during the legislative process and understanding how these contributions influence tax policy outcomes.
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Analysing the potential impacts of tax policy changes on businesses, individuals, and the broader economy, including sector-specific implications.
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Accessing, interpreting, and effectively utilising resources and tools related to tax policy updates, legislative changes, and compliance requirements to stay informed and proactive.
Content
The webinar will cover the following topics:
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The Tax Legislative Cycle Overview
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Annual 10-month process
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Budget Review in February and subsequent events
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Stakeholder Engagement in Tax Policy Development
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Public discussion papers
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Draft documents and public consultation (July/August)
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NT/SARS Workshop for public participation (September)
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Drafting and Approval Process
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Release of bills and memoranda by SARS (October)
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Explanation of administration and money bills per the Constitution
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Parliamentary involvement and oversight
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Post-Budget Updates and Adjustments
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MTBPS overview and Annexure C proposal submissions
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National Treasury’s approach to budgetary adjustments
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