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Finance Standing Committee
SARS on its Quarterly Report & Annual Performance Plan
23 Aug 2016
Documents Awaited : SARS Strategic Plan 2016/17 – 2020/21; SARS Annual Performance Plan 2016 - 2017 [email info@pmg.org.za]
The Committee was briefed by the South African Revenue Services (SARS) on its Strategic Plan for 2016/17 – 2020/21, with the SARS Commissioner in attendance. It was noted that SARS had continued to excel ...
Finance Standing Committee
Financial Sector Regulation “Twin Peaks” Bill [B34-2015]: deliberations
17 Aug 2016
The afternoon session opened with a continuation of a discussion on the National Credit Regulator in relation to the Bill before the Committee.
The meeting then moved onto a consideration of the financial impact of the Bill. Members were concerned about the costs being transferred from the financial institutions onto ...
Finance Standing Committee
Financial Sector Regulation Bill [B34-2015]: discussion & Draft Taxation Laws Amendment Bill: National Treasury on comments received
17 Aug 2016
National Treasury presented the revised version of the Tax Bill, and took the Committee through the amended clauses of the Financial Sector Regulation Bill.
National Treasury said that the special VDP (Voluntary Disclosure Programme) would commence next year on an international spectrum and this would give SARS an insight of ...
Finance Standing Committee
Illicit Financial Flows, Base Erosion & Profit Sharing, Panama Papers: Treasury, SARB, Financial Intelligence Centre, SARS inputs
25 May 2016
This was a joint meeting with the Portfolio Committees of Trade and Industry and Mineral Resources.
National Treasury introduced the presentations. On illicit flows, the difficulty was hard evidence. The media put out a lot of information but it would be helpful if people went directly to the authorities with ...
Finance Standing Committee
African Bank and the Myburgh Report: SARB briefing
24 May 2016
The Deputy Governor of the South African Reserve Bank presented the Myburgh Report on the African Bank. He provided an explanation of events leading up to the curatorship of African Bank, the contents of the Myburgh Report and how the curatorship was progressing.
Some of the reasons for the collapse ...
Finance Standing Committee
SARS Commissioner & National Treasury on 2016 results
17 May 2016
The Director General of National Treasury took the Committee through its 2015/16 performance, and also responded to the Committee’s 2015 Budgetary Review and Recommendations Report (BRRR). The pre-audited outcome was R28.690 billion or 98.9% of the final budget with R314 million unspent. An area of significant variation between budget and ...
Finance Standing Committee
Chief Procurement Officer's progress and new projects report
11 May 2016
The Chief Procurement Officer presented a progress and new projects report on Office of the Chief Procurement Officer (OPCO). He explained that the OCPO has taken several measures to create electronic portals for procurement and supply chain management (SCM). Among these are the Central Suppliers Database, the eTender portal, the gCommerce ...
Finance Standing Committee
Public Investment Corporation responses to Standing Committee
10 May 2016
The Committee was due to hear briefings not only from the Public Investment Corporation (PIC), but also from the Government Employees Pension Fund and the Government Pension Administration Agency. However, due to time constraints and a number of pointed questions put to the PIC, that some Members felt were politically ...
Finance Standing Committee
Financial Intelligence Centre Amendment Bill [B33-2015]: deliberations
20 Apr 2016
Document: Financial Intelligence Centre Amendment Bill 2016 as Amended by standing Committee on Finance (awaited)
National Treasury provided a wrap-up on the Financial Intelligence Centre Amendment Bill, stating that financial crime remains on the global and local agenda with international standards on combating financial crime evolving and the SA regulatory ...
Finance Standing Committee
Rates & Monetary Amounts and Amendment of Revenue Laws Draft Bill: National Treasury briefing
19 Apr 2016
The Standing Committee on Finance met with representatives of the National Treasury and the South African Revenue Service (SARS) to be briefed on the draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill.
National Treasury introduced the briefing by stating that the budget was being followed by four ...
Finance Standing Committee
Financial Services Board on its 2016 Strategic & Annual Performance Plan & Quarterly Reports
13 Apr 2016
The Committee met with delegates from the Financial Services Board (FSB) to discuss its strategic and annual performance plans, and performance report for 2016.
The FSB said its performance had been satisfactory over the period, with almost all targets being met or exceeded. The strategy document had been influenced largely ...
Finance Standing Committee
National Treasury on its 2016 Strategic and Annual Performance plan, with Minister
6 Apr 2016
The Department of Finance reported on the National Treasury’s strategic and annual performance plan. The Minister of Finance told the Committee that international institutions were no longer interested in plans, but rather in concrete milestones that were a demonstration of the intention to implement them. The Department sought to achieve ...