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Finance Standing Committee
VAT Panel Recommendations; Taxation Laws Amendment Bill & Tax Administration Laws Amendment Bill: briefing
16 Aug 2018
The Committee met with National Treasury for a briefing on the Taxation Laws Amendment Bill (TLAB) & Tax Administration Laws Amendment Bill (TALAB) Bills. The highlights of National Treasury’s proposed amendments to the two Bills were as follows:
Taxation Laws Amendment Bill (TLAB)
Clause 1- Alignment of tax treatment of ...
Finance Standing Committee
PIC Amendment Bills: hearings
15 Aug 2018
The Committee held public hearings on the two Public Investment Corporation (PIC) Bills. The Public Servants Association (PSA), the Public Service Collective Bargaining Council (PSCBC) and AmaBhungane Centre for Investigative Journalism made oral submissions.
The PSA opposed the provision that would require the PIC to consider certain matters when exercising ...
Finance Standing Committee
South African Reserve Bank (SARB) Annual Report
15 Aug 2018
Government Departments & Entities 2016/17 Annual Reports
The Standing Committee on Finance met with the South African Reserve Bank (SARB) for a briefing on their annual report and related issues.
SARB, in presenting, highlighted the macroeconomic overview and outlook. Global growth is accelerating but risks were also rising. During the second ...
Finance Standing Committee
World Bank Report: An Incomplete Transition: Overcoming the Legacy of Exclusion in South Africa
14 Aug 2018
The Committee met with the World Bank for a presentation of South Africa’s Systematic Country Diagnostic, based on the latter’s Report entitled: “An Incomplete Transition: Overcoming the Legacy of Exclusion in South Africa”.
The World Bank noted that South Africa’s transition remained incomplete as the legacy of exclusion persists, in ...
Finance Standing Committee
SAA Quarterly Report, with Deputy Minister
7 Jun 2018
The Committee was briefed by the South African Airways (SAA) on its quarter four performance report in the presence of the Deputy Minister.
SAA Board Chairperson said liquidity and going-concern issues still persist. These issues continue to the extent that it was decided that an oversight committee, chaired by the ...
Finance Standing Committee
Carbon Tax Bill: Treasury response to submissions
7 Jun 2018
The Portfolio Committee on Environmental Affairs and the Standing Committee on Finance received a briefing from the National Treasury on its responses to the various comments from various stakeholders on the draft Carbon Tax Bill 2017. In addition, a number of the stakeholders, including a university professor, a non-governmental organisation ...
Finance Standing Committee
Money Bills Amendment Bill: finalisation
6 Jun 2018
Relevant documents: Finance Committee Condemns Mr Shivambu’s Behaviour ; Committee Reaffirms Statement on Mr Shivambu and Reiterates Its Commitment to Demographic Representation in National Treasury
The Standing Committee on Finance met to vote on the Money Bills Amendment Procedure and Related Matters Amendment Bill.
Members agreed to dispense with ...
Finance Standing Committee
Financial Sector Summit preparations; PIC rationale for investment decisions; with Deputy Minister
5 Jun 2018
The Committee adopted a resolution on the closure to the public of the 16 May committee meeting on SAA. The Chairperson spoke about stakeholder response to the Committee Report on Financial Sector Transformation and publicising the Committee's recommendations in the build-up to the Financial Sector Summit in July. The private ...
Finance Standing Committee
PIC Bills: public hearings; Partial closure of SAA meeting
31 May 2018
The Standing Committee on Finance held public hearings on the two Public Investment Corporation (PIC) Amendment Bills (the Private Members’ bill and Committee Bill). The Congress of South African Trade Unions (COSATU), Federation of Unions of South Africa (FEDUSA), AmaBhungane and National Treasury made submissions.
COSATU appreciated the Committee’s support ...
Finance Standing Committee
VBS Mutual Bank and Capitec follow-up meeting
30 May 2018
The Standing Committee on Finance met for a follow-up briefing on Capitec and VBS Mutual Bank. The South African Reserve Bank (SARB), National Treasury, the Financial Sector Conduct Authority (FSCA), the National Credit Regulator (NCR), and Capitec were in attendance and gave inputs.
Capitec explained that the bank had done its part ...