Politician Profile Page
Finance Standing Committee
Illicit Financial Flows & Base Erosion and Profit Sharing: input by government agencies
15 Mar 2017
The Standing Committee on Finance, the Portfolio Committees on Trade and Industry and Mineral Resources held a joint meeting on illicit financial flows to hear the views of the following stakeholders in the battle to stop the harmful effects of illicit financial flows (IFFs), transfer pricing and base erosion and ...
Finance Standing Committee
Transformation of the Financial Sector: public hearings
14 Mar 2017
The Finance and Trade and Industry Committees held joint public hearing on Transformation of the Financial Sector. The bank submissions gave reports on their transformation and admitted it was not as good as hoped but Members believed that there was little progress in transformation, especially in terms of ownership. NEDLAC ...
Finance Standing Committee
Committee Report on Fiscal Framework and Revenue Proposals
7 Mar 2017
The Standing Committee on Finance (SCOF) discussed the report of the standing committee on finance on the 2017 fiscal framework and revenue proposals. The DA had submitted certain comments and proposed amendments regarding the report which were appended to the report on pages 18 and 19. These points were discussed ...
Finance Standing Committee
2017 Budget: public hearings
1 Mar 2017
The joint Committee meeting entailed presentations from various firms and organisations on the 2017/18 budget. All delegates expressed concern about government spending and many said that the heavy reliance on direct, personal and corporate tax was unsustainable. COSATU and NEHAWU were unhappy with the lack of a clear plan to ...
Finance Standing Committee
FICA Bill and Committee Report: adoption
21 Feb 2017
The meeting began with deliberations on the Committee Report on the referral of the Financial Intelligence Centre Amendment Bill [B 33B–2015]. This report contains the Committee’s conclusions regarding comments from the President on the Financial Intelligence Centre Amendment Bill.
There were no further changes to the Committee proposed amendments to ...
Finance Standing Committee
Budget 2017: pre-budget briefing by Parliamentary Budget Office
21 Feb 2017
A pre-budget briefing was given to the four finance committees by the Parliamentary Budget Office (PBO). The presentation highlighted lower-than-expected revenues as a key challenge facing the fiscus. Also discussed were the main avenues of expenditure, the trajectory of the budget and the potential tools available to government to reduce ...
Finance Standing Committee
Mandatory Audit Firm Rotation: public hearings; FICA Bill: proposed amendments
15 Feb 2017
Portfolio Committee amendments (see previous version)
The Independent Regulatory Board for Auditors (IRBA) said that the Enron case showed that auditors could become too close to companies. The Masterbond case led to recommendations to strengthen regulations to ensure stricter audit oversight and guard the independence of auditors. IRBA ...
Finance Standing Committee
Taxation of Sugar Sweetened Beverages: public hearings
14 Feb 2017
Healthy Living Alliance (HEALA) said that in Tembisa, a township in Johannesburg, it was easy to access sugar-sweetened beverages (SSBs) where advertising for SSBs was at every corner. It could no longer be ignored what multinationals were doing. Almost all schools had their names written on Coca Cola SA billboards; ...
Finance Standing Committee
Money Bills Amendment Procedure Act review: joint workshop
8 Feb 2017
Parliament’s Constitutional and Legal Services Office (CLSO) presented at the joint workshop to the Finance and Appropriations Standing and Select Committees. It noted that the National Assembly had passed a resolution in May 2016 that the Finance Standing Committee should review the Money Bills Act with a view to introduce ...
Finance Standing Committee
Insurance Bill [B1-2016]: public hearings
7 Feb 2017
Public hearings were held by the Committee on the Insurance Bill. Stakeholders were invited to give comment on the Bill and six different parties presented oral submissions. The South African Insurance Association (SAIA) believed that the Bill had to be processed urgently as it contributed to financial stability and governance ...