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Finance Standing Committee
Revised Fiscal Framework : Consideration and Adoption of Committee Report
30 Oct 2014
The Standing Committee on Finance and the Select Committee on Finance met to consider and adopt the of Committee Report on the Revised Fiscal Framework. Members debated the phraseology of some sections of the report and debated whether the report was an accurate reflection of what other input had been ...
Finance Standing Committee
Accounting Standards Board on its 2013/14 Annual Report; Parliamentary Budget Office on impact of investment in South Africa
29 Oct 2014
The Accounting Standards Board (ASB) briefed the Committee on its annual report, focussing on financial performance, cost containment, strategy of the ASB 2015-19 and discussed a letter dated 23 July 2014. The ASB reported that its performance was limited by its narrow mandate and demanded a review and extension of ...
Finance Standing Committee
Revised Fiscal Framework: public hearings
28 Oct 2014
A joint meeting of the Standing and Select Committees on Finance heard briefings from the Financial and Fiscal Commission (FFC), the Parliamentary Budget Office (PBO), and the SA Reserve Bank (SARB) on the revised fiscal framework.
The Financial and Fiscal Commission (FFC) presentation gave an overview of the Medium Term ...
Finance Standing Committee
2014 Medium Term Budget Policy Statement: briefing by Minister of Finance, with Deputy Minister in attendance
23 Oct 2014
The Minister remarked that the budget policy framework and spending priorities of government for the following three years was produced under trying and unenviable conditions. The Director General explained that the global outlook remained uneven, and that the South African current account and fiscal deficits caused the country to depend ...
Finance Standing Committee
SA Reserve Bank on its 2013/14 Annual Report; SARS response to comments on Taxation Laws & Tax Administration Laws Amendment Draft Bills
15 Oct 2014
The Governor Designate of the South African Reserve Bank (SARB) noted that this year was the first integrated report of the bank. It had been moving toward integrated reporting in line with best practice and international guidelines over the past few years. He provided SARB's views on the economy and ...
Finance Standing Committee
SARS & National Treasury on their 2013/2014 Annual Report; Audit Outcomes: AGSA briefing
14 Oct 2014
The Standing Committee on Finance heard briefings from the Auditor-General of South Africa, National Treasury and the South African Revenue Service on Treasury and SARS annual reports for 2013/14.
Department of Finance 2013/2014 Audit Outcomes: AGSA briefing
The Auditor-General of South Africa said that the Department had received an unqualified ...
Finance Standing Committee
Medium Term Strategic Framework: briefing; DBSA Amendment Bill: voting; Budgetary Review & Recommendations Report: briefing
17 Sep 2014
The Committee met and adopted the DBSA Amendment Bill [B2-2014] Committee report and the DBSA Amendment Bill [B2-2014] as well as heard briefings from the Parliamentary Budget Office (PBO) on the Medium Term Strategic Framework (MTSF) and the Parliamentary Researcher on the Budgetary Review Recommendation Report (BRRR).
The Parliamentary Budget ...
Finance Standing Committee
National Treasury & South African Revenue Service on Double Taxation Agreements & ratification thereof
10 Sep 2014
The Committee met to consider various agreements between South Africa and other countries which were designed to assist tax authorities to combat tax avoidance and evasion. These included the multilateral African Tax Administration Forum (ATAF) agreement on mutual assistance in tax matters, to allow for effective exchange of information and ...
Finance Standing Committee
Land Bank, Pension Fund Adjudicator and Ombudsman for Financial Services on their roles and mandates
9 Sep 2014
The Standing Committee on Finance received briefings from the Land Bank, the Pension Fund Adjudicator and the Financial Advisory and Intermediary Services Ombud.
Briefing by Land Bank
The Land bank gave a background of the bank and the bank’s performance for the last financial year. It spoke to its contribution ...
Finance Standing Committee
Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill, Draft Taxation Laws Amendment Bill & Draft Tax Administration Laws Amendment Bill : public hearings day 2
27 Aug 2014
The Standing Committee on Finance received presentations presentations from Pricewaterhouse Cooper, Old Mutual, KPMG, The Motor Industry Bargaining Council, the African Farmers Association of South Africa and the SA Breweries Foundation at public hearings on the Draft Taxation Laws Amendment Bill (DTLAB) and the Draft Taxation Administration Laws Amendment Bill ...