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Finance Standing Committee
Financial Sector Regulation Bill [B34-2015]: deliberations
29 Nov 2016
Organisation of Traditional Leaders Southern Africa
Department of Justice and Constitutional Development discussions
Outstanding points for Committee consideration
The Committee met to further deliberate on outstanding and proposed amendment of the Financial Sector Regulation Bill. The proposed amendments and questions raised were on; independent inquiry, model of appointment of the ...
Finance Standing Committee
Rates and Monetary Amendment of Revenue Laws Bill and Committee Report; Taxation Laws Amendment Bill, Financial Sector Regulation (Twin Peaks) Bill: deliberations
24 Nov 2016
The Committee considered the Bill and the Committee Report in respect of the Rates and Monetary Amendment of Revenue Laws Bill. Members raised no concerns as they went through the Bill, which was adopted unanimously. However, the DA had proposed some amendments to the Report, believing that the insertions that ...
Finance Standing Committee
Tax Administration Laws Amendment Bill; Financial Sector Regulation Bill: deliberations
23 Nov 2016
The Committee went through the Tax Administration Laws Amendment Bill. The general concern was that law enforcement authorities are not doing enough about illicit flow of funds, tax base erosion and profit shifting.
The Committee went through the Financial Sector Regulation Bill and concerns raised by stakeholders were addressed. The ...
Finance Standing Committee
Taxation Laws Amendment & Tax Administration Laws Amendment Bill; Rates and Monetary Amounts and Amendment of Revenue Laws Bills: voting; “Twin Peaks” Bill deliberations
22 Nov 2016
The Committee met to discuss outstanding matters on the Tax Laws Amendment Bill (TLAB) and Rates and Monetary Amounts Amendment Bill. The Financial Sector Regulation Bill was also discussed and the DA believed that the Committee could not vote on the Bill yet. The Chairperson felt that the DA was ...
Finance Standing Committee
South African Airways (SAA) on its Annual Report 2015/16
16 Nov 2016
South African Airways (SAA) reported that its revenue for 2015/2016 had amounted to R28.8 billion, which was an increase of 1% over the previous year. There had been a 3% increase in load factors, and average air fares were up by 2%. Ancillary revenues had also improved ...
Finance Standing Committee
Employment and Learnership Tax Incentives: response to submissions; IRBA on Mandatory Audit Firm rotation & Annual Report
15 Nov 2016
National Treasury presented its responses to the submissions on the Employment and Learnership Tax Incentives following public hearings. The Learnership Tax Incentive was introduced to encourage skills development and job creation, by providing an additional tax deduction for formal, SETA-registered training programmes. The incentive was currently available ...
Finance Standing Committee
Employment and Learnership Tax Incentives: Public hearings
9 Nov 2016
The Committee held public hearings on the Employment Tax Incentive (ETI). This was a concept that was introduced for a trial period, but there was a proposal to extend it for another two years on expiry of the initial time in December 2016. Many of the submissions presented some detail ...
Finance Standing Committee
Committee Report on 2016 Revised Fiscal Framework (MTBPS); Financial Sector Regulation Bill: deliberations
8 Nov 2016
The Standing and Select Committees on finance met jointly to adopt the Medium Term Budget Policy Statement (MTBPS) report. The general view was that the recommendations are binding, therefore realistic targets have to be set. The Money Bills Act imposes an obligation on the Committee to determine whether the debt ...
Finance Standing Committee
2016 MTBPS: Parliamentary Budget Office briefing
1 Nov 2016
The PBO presented its MTBPS analysis to the four Committees. It gave members highlights from the Ministers MTBPS speech and some highlights included stabilising debt as a share of Gross Domestic Product (GDP), stimulating growth, increasing revenue growth and creating more government efficiency. PBO gave an outline of reprioritisation to ...
Finance Standing Committee
2016 Medium Term Budget Policy Statement (MTBPS) Lock-up (Closed Meeting)
26 Oct 2016
It was a closed session. PMG was not present at the meeting.