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Finance Standing Committee
Capitalise SAA using s16 of PFMA: legal opinion; Committee Resolutions on GEPF, PIC & trade unions; Financial Sector Transformation Hearings Report
18 Oct 2017
The Parliamentary Legal Unit advised the Committee on the legality of using section 16 of the Public Finance Management Act (PFMA) to capitalise SAA. Section 16 was intended for use where good financial planning and management could not avert the need for unusual expenditure. According to his interpretation, it appears ...
Finance Standing Committee
Office of the Chief Procurement Officer briefing
11 Oct 2017
The Office of the Chief Procurement Officer (OCPO) briefed the Committee on roles and responsibilities, achievements and challenges of the Office.
OCPO roles and responsibilities were to develop Supply Chain Management (SCM) policies, set uniform norms and standards for policy application that are aligned to section 217 of the Constitution, ...
Finance Standing Committee
Taxation Laws Amendment Bill; Tax Administration Laws Amendment Bill: policy issues; Venda Pension matter
10 Oct 2017
National Treasury and the South African Revenue Service (SARS) gave an update on the steps taken in addressing the key issues raised during the consultation process on the 2017 Taxation Laws Amendment Bill (TLAB) and Tax Administration Laws Amendment Bill (TALAB).
Since Treasury and SARS last briefed the Committee, a ...
Finance Standing Committee
Health Promotion Levy; Transformation of the Financial Sector Committee Report; Venda Pension matter
4 Oct 2017
The Joint Standing Committee on Finance and Trade and Industry deliberated on stakeholder responses to the interim Transformation of the Financial Sector Report.
The Chairperson gave an overview of the transformation discourse. Participants in the hearings preceding release of the interim Transformation of the Financial Sector Report were more polarised ...
Finance Standing Committee
KPMG & Deloitte investigations: IRBA progress report; JSE transformation; National Treasury Annual Report, with Auditor-General input; with Deputy Minister
3 Oct 2017
Annual Reports 2016/17
The Independent Regulatory Board of Auditors (IRBA) reported on progress on the KPMG investigations. On June 30 2017, IRBA announced that it would launch an investigation into the 2014 KPMG audit of Linkway Trading. Investigating letters were issued to respondents on the same date and an ...
Finance Standing Committee
Taxation Laws & Tax Administration Laws Amendment Bills: response to submissions
14 Sep 2017
National Treasury and the South African Revenue Service (SARS) gave responses on submissions received for the 2017 Tax Administration Laws Amendment Bill (TALAB) and Taxation Laws Amendment Bill (TLAB). The amendment Bills were published for public comment on 19 July 2017. Treasury and SARS received written comments from 1420 organisations ...
Finance Standing Committee
SAA Board Chair contract extension; Treasury & SARS Quarter 1 Report, with Minister & Deputy; Office of Tax Ombud: delayed refunds investigation
13 Sep 2017
The South African Airways (SAA) presented its first quarter expenditure and performance report for the financial year 2017/18, in the presence of the Deputy Minister. SAA was expected to lay emphasis on progress made in the implementation of its turnaround strategy and corporate plan since its last appearance before the ...
Finance Standing Committee
Insurance Bill: deliberations
12 Sep 2017
The Committee met with Treasury and the Financial Services Board for further deliberations on the Insurance Bill. The Bill was built on the Twin Peaks model of financial regulation envisaged in the Financial Sector Regulation Act (FSRA) in respect of prudential supervision. It provided a consolidated legal framework for the ...
Finance Standing Committee
Illicit Financial Flows & Base Erosion and Profit Shifting – focus on prosecutions
30 Aug 2017
The Standing Committee on Finance, together with the Portfolio Committees on Trade and Industry; Mineral Resources; and Police, met with the Directorate for Priority Crime Investigation, the National Prosecuting Authority, South African Revenue Service, Financial Intelligence Centre, South African Reserve Bank, National Treasury and Department of Trade and Industry, and the ...
Public Accounts (SCOPA)
Integrated Financial Management System (IFMS): hearing with Treasury, with Minister of Finance
29 Aug 2017
Minister Malusi Gigaba said the National Treasury was appearing before the Committee on the Integrated Financial Management System (IFMS) project aimed at modernising and integrating all human resource and financial management systems across government and it was there to account for the poor financial and operating controls which an internal ...