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NCOP Finance
Revenue Laws Amendment Bill [B6-2016]: briefing, consideration and adoption
16 Mar 2016
The Committee was briefed by National Treasury on the Revenue Laws Amendment Bill and considered and approved the Bill, with the DA dissenting. The Bill provides an amendment to the Taxation Laws Amendment Act to postpone the commencement date from 1 March 2016 to 1 March 2018 for certain provisions ...
Finance Standing Committee
Revenue Laws Amendment Bill [B4-2016]: NUMSA, COSATU, ASISA concerns
8 Mar 2016
The meeting was held to deal with the recent Revenue Laws Amendment Bill and the two-year delay on compulsory annuitisation of provident funds. The Chairperson noted that this is particularly important to unions and a sensitive matter with regard to savings and taxation. The major disagreements in the meeting were ...
Finance Standing Committee
Finance Committee Report on 2016 Budget
8 Mar 2016
The joint committee meeting with the Standing Committee and Select Committee on Finance was held to discuss their considerations of the 2016 Budget Committee Report. Among some of the points raised were:
• The need for National Treasury to provide the relevant information, assuming it was not market sensitive, to ...
Finance Standing Committee
Revenue Laws Amendment Bill [B4-2016]: public hearings; Treasury, COSATU, ASISA submissions
3 Mar 2016
Co-Chairperson Mr Y Carrim (ANC) read out a statement, which drew heavily from the November 2015 Report of the Standing Committee on Finance to the National Assembly, on behalf of the Standing Committee. This statement mainly dealt with allegations that there had been insufficient or no consultation by that Committee ...
Finance Standing Committee
2016 Budget: Public hearings
2 Mar 2016
The joint sitting of the Standing and Select Committees on Finance heard submissions from six entities on the Revenue Laws Amendment Bill. The entities were the Congress of South African Trade Unions (COSATU), the Witwatersrand University’s School of Economics and Business Science, the Federation of Unions of South Africa (FEDUSA), ...
Standing Committee on Appropriations
Minister of Finance on the 2016 Budget
25 Feb 2016
In the presence of the Minister of Finance, the Director General of National Treasury briefed the Committee on the 2016 Budget and the Minister answered questions. Taking the Committee through the presentation, the DG focused on the reasons for tough decisions and why South African needed to act pre-emptively. The ...
Finance Standing Committee
Pre-Budget presentation by Parliamentary Budget Office; South African Economic Update: World Bank briefing
17 Feb 2016
The Parliamentary Budget Office (PBO) provided pre-budget analysis of the macro-economic background and the fiscal framework for 2016, to a joint meeting attended by the Standing and Select Committees on Appropriations and the Standing and Select Committees on Finance.
The Office discussed South Africa’s difficult economic climate, noting revised downward ...
NCOP Finance
Land Bank on their Corporate Plan for 2015/16 – 2017/18 briefing
16 Feb 2016
Land Bank briefed the Committee on its Corporate Plan. It noted that it shares characteristics of both a commercial bank and a Development Finance Institution(DFI). It would be meeting in the following week to approve the final Corporate Plan, which would be subject to approval of the National Treasury (NT). ...
NCOP Finance
Progress made with regards to implementation of Memorandum of Agreement (MOA): Monitoring and Evaluation Committee (former Limpopo Administrators) briefing
2 Feb 2016
The MEC for Treasury (in Limpopo) informed the Committee that Limpopo had moved from a section 100(1)(b) intervention to section 100(1)(b) in 2014 for all five government departments, according to a Cabinet decision. There had been a R2.1 billion overdraft in December 2011, but the cash situation was currently stable. ...
NCOP Finance
Taxation Laws Amendment Bill [B29B-15]; Tax Administration Laws Amendment Bill [B30-15]: briefing & adoption; Committee Report on Limpopo oversight visit
27 Nov 2015
The Committee heard a joint presentation from National Treasury and the South African Revenue Service on the Taxation Laws Amendment Bill [B29B-2015] and the Tax Administration Laws Amendment Bill [B30-2015]. The presentation dealt with changes to the law in the areas of general business taxes, taxation of financial institutions and ...