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Finance Standing Committee
Sugary Beverages Health Promotion Levy: Treasury response
21 Jun 2017
National Treasury presented its responses to submissions received on the Health Promotion Levy. The 2017 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (Draft Rates Bill) was first released for public comment on 22 February 2017 which was Budget Speech Day. National Treasury and SARS briefed the ...
Finance Standing Committee
National Treasury & SARS on their Quarter 4 performance
20 Jun 2017
National Treasury took the Committee through a presentation on its fourth quarter expenditure and performance for the financial year 2016/17. The total quarter four budget amounted to R28.5 billion, with the bulk of it going towards revenue administration, financial intelligence and state security, and international financial relations. A variance of ...
Finance Standing Committee
Money Bills Amendment Procedure and Related Matters Act: workshop
13 Jun 2017
Constitutional and Legal Services Office took the committees through a presentation on the review of the Money Bills Amendment Procedure and Related Matters Act. He outlined the rationale for the sequencing of appropriations. The requirement that the Division of Revenue Bill (DORB) and the Appropriation Bill may only be referred ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill: adoption
7 Jun 2017
The Financial Sector Regulation Bill was passed by the National Council of Provinces (NCOP), subject to proposed amendments, on 25 May 2017, and referred to the Standing Committee on Finance. The proposed amendments by the NCOP pertained substantially to three areas:
- First, the protection of financial customers in respect ...
Standing Committee on Appropriations
Appropriation Bill 2017: Democratic Alliance & Department of Human Settlements submissions
31 May 2017
DA Submission
Prior to the presentation, the ANC questioned the cover of the proposal as it clashed with a previous decision taken by the Committee that no political party present proposals. The DA agreed to change the cover of the proposal. The DA presented its proposal for amendments to the ...
Finance Standing Committee
Financial Sector Regulation Bill: NCOP amendments
30 May 2017
National Treasury took the Committee through proposed amendments to the Financial Sector Regulation (FSR) Bill by the National Council of Provinces (NCOP). National Treasury pointed out that changes were put into five categories, namely; omissions, minor corrections, protection of financial customers- account closures, as well as alignment with the Financial ...
Finance Standing Committee
Transformation in the Financial Sector: response to submissions
24 May 2017
The joint meeting heard the Department of Trade and Industry and National Treasury responses to the public submissions on the transformation of the Finance Services Sector. In addition, the EFF made a submission on transformation of the sector.
The EFF presentation referred to differences between empowerment and ownership and said ...
Finance Standing Committee
Rates and Monetary Amounts Bill & sugary beverages tax; BEPS Multilateral Instrument: briefing
23 May 2017
National Treasury presented the 2017 Draft Rates and Monetary Amounts and Amendment of the Revenue Laws Bill (the Rates Bill) before the Committee. The Rates Bill gives effect to the tax proposals announced by the former Minister of Finance in his Budget Speech. It deals with changes in tax rates ...
Finance Standing Committee
South African Airways Corporate Plan & Turnaround Strategy with Finance Deputy Minister
17 May 2017
The Deputy Minister of Finance, Mr Sifiso Buthelezi, spoke of the challenges at SAA, but that there was a belief that the airline could be returned to profitability. National Treasury had had to give a guarantee of R4.72 billion to ensure that the challenge of SAA remaining a going concern ...
Standing Committee on Appropriations
2017 Appropriation Bill: briefing, with Minister
16 May 2017
National Treasury presented the 2017 Appropriation Bill. Economic growth was insufficient, and fiscal constraints were faced. The budget aimed at redistribution to poor and working class families, and the rural poor. Public investment had to support economic transformation. Spending was growing in priority areas like post-school education and training. Expenditure ...