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NCOP Appropriations
Division of Revenue Bill [B4-2017]: public hearings
2 May 2017
South Africa’s municipalities had a total overdue electricity debt at the end of March this year of R9.4 billion. This figure was revealed by Eskom during a meeting of the Select Committee on Appropriations to consider submissions on the Division of Revenue Bill. The Committee was also briefed by the ...
Standing Committee on Appropriations
Division of Revenue Bill B4-2017: National Treasury & Financial and Fiscal briefing
10 Mar 2017
National Treasury briefed the Joint Committee on the Division of Revenue Bill, 2017. The brief focused on the background to the Bill, overview of the division of revenue for the 2017 Medium Term Expenditure Framework, responses to recommendations on the Bill, changes to clauses of the Bill, provincial allocations and ...
NCOP Finance
Committee Report on Fiscal Framework and Revenue Proposals
7 Mar 2017
The Select Committee on Finance discussed the report on the 2017 fiscal framework and revenue proposals. The Committee did not deliberate on the report itself but simply noted that the report was of a high quality. In addition, they took note of the recent changes made by the Standing Committee, ...
Finance Standing Committee
2017/18 Budget: Treasury response to submissions
2 Mar 2017
Treasury’s response to submissions and questions contained in them were:
• On sugary beverages tax, a number of consultation processes had to be done because this tax can lead to job losses. After extensive consultations, it was decided that a tax exemption threshold of 4g/100ml should be introduced and the ...
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 ...
NCOP Finance
Supply Chain Management Regulations under MFMA: Draft Amendment; Regulations on demarcation between health insurance and medical schemes: National Treasury briefings
15 Feb 2017
The National Treasury briefed the Committee on the Amendment to Supply Management Regulations under the Municipal Finance Management Act. Two amendments were made – to the definitions, and to regulation 44 that relates to the awarding of tenders by municipalities. The latter regulation said that the Supply Chain Management policy ...
NCOP Finance
Financial Sector Regulation Bill: briefing; Credit, Banking & Insurance Ombuds on Bill's impact
14 Feb 2017
National Treasury took the Committee through revisions to the FSRB, related to the Financial Sector Conduct Authority regulation and supervision of a financial institution’s conduct in relation to provision of credit under a credit agreement. This included the conduct standard in relation to a financial service, transactions becoming the buyer ...
NCOP Finance
City of Cape Town Metro IDP, LED and budget implementation
31 Jan 2017
The National Treasury noted that capital expenditure for the Western Cape and Cape Town City was below 90 percent. The City had an operating surplus of R2.2 billion. The City had to implement cost containment measures to generate cash for road infrastructure, water and electricity. The City had improved steadily ...
NCOP Appropriations
Adjustments Appropriation Bill [B16-2016] & Finance Bill [B21-2016]: consideration; Committee Report on MTBPS
8 Dec 2016
Report of the meeting to follow.
NCOP Finance
Tax Bills: adoption
7 Dec 2016
All four Tax Bills were considered and adopted without amendment. The DA objected to certain items in the Taxation Laws Amendment Bill and in the Rates and Monetary Amounts and Amendment of Revenue Laws Bill, which were captured in the Committee Report.