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Finance Standing Committee
Processing of Medium Term Budget Policy Statement: input from National Treasury, FFC and Parliamentary Budget Office
16 Sep 2014
The Joint Meeting of the Standing and Select Committees on Finance and the Standing and Select Committees on Appropriations heard briefings from the Parliamentary Budget Office (PBO), the Financial and Fiscal Commission (FFC) and National Treasury.
The Parliamentary Budget Office (PBO) presentation covered the legislative mandate of the Medium Term ...
Finance Standing Committee
National Treasury & South African Revenue Service on Double Taxation Agreements & ratification thereof
10 Sep 2014
The Committee met to consider various agreements between South Africa and other countries which were designed to assist tax authorities to combat tax avoidance and evasion. These included the multilateral African Tax Administration Forum (ATAF) agreement on mutual assistance in tax matters, to allow for effective exchange of information and ...
Finance Standing Committee
Land Bank, Pension Fund Adjudicator and Ombudsman for Financial Services on their roles and mandates
9 Sep 2014
The Standing Committee on Finance received briefings from the Land Bank, the Pension Fund Adjudicator and the Financial Advisory and Intermediary Services Ombud.
Briefing by Land Bank
The Land bank gave a background of the bank and the bank’s performance for the last financial year. It spoke to its contribution ...
Finance Standing Committee
Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill, Draft Taxation Laws Amendment Bill & Draft Tax Administration Laws Amendment Bill : public hearings day 2
27 Aug 2014
The Standing Committee on Finance received presentations presentations from Pricewaterhouse Cooper, Old Mutual, KPMG, The Motor Industry Bargaining Council, the African Farmers Association of South Africa and the SA Breweries Foundation at public hearings on the Draft Taxation Laws Amendment Bill (DTLAB) and the Draft Taxation Administration Laws Amendment Bill ...
Finance Standing Committee
Government Employees Pension Fund, Government Pension Administration Agency & Financial Services Board on their roles and mandates and contribution to the NDP and economy
19 Aug 2014
The Standing Committee on Finance was briefed by the Government Employees Pension Fund (GEPF), the Government Pension Administration Agency (GPAA) and the Financial Services Board (FSB) on their roles and mandates.
The GEPF was described as the largest pension fund in Africa, with assets of R1.4 trillion under management. The ...
Finance Standing Committee
Financial and Fiscal Commission briefing on its role and mandate; Draft Taxation Laws Amendment Bill, Draft Tax Administration Amendment Bill & Draft Rates and Monetary Amounts Bill: National Treasury briefing
30 Jul 2014
Role and mandate of the Financial & Fiscal Commission
The Financial and Fiscal Commission (FFC) provided the Committee with a detailed briefing on its role and mandate, which required it to produce recommendations on the equitable division of revenue among the three spheres of government. Before tabling a proposal for ...
Finance Standing Committee
Public Investment Corporation and Financial Intelligence Centre: mandate, role in economy and contribution to National Development Plan
29 Jul 2014
The Public Investment Corporation (PIC) and the Financial Intelligence Centre (FIC) briefed the Committee on their mandates, role in the economy and their alignment with the National Development Plan (NDP). The PIC aimed to deliver investment returns in line with client mandates, to be in the forefront of good cooperative ...
Finance Standing Committee
Accounting Standards Board & Independent Regulatory Board for Auditors: Briefings on roles and mandates
16 Jul 2014
The Accounting Standards Board (ASB) and Independent Regulatory Board for Auditors (IRB) gave briefings to explain their respective roles and functions, their contribution to the economy and their alignment to the National Development Plan (NDP). The ASB noted that its main mandates were to promote transparency in, and effective financial ...
Finance Standing Committee
National Treasury, SARS & Statistics South Africa 2014 Strategic Plan: briefing, with Minister of Finance in attendance
2 Jul 2014
The Standing Committee on Finance received briefings from the Department of Finance, the South African Revenue Service and Statistics South Africa on their 2014 Strategic and Annual Performance Plans.
The Minister of Finance said the economy was growing at a moderate pace and performing below expectations. The projected growth ...
Finance Standing Committee
Budget Vote Process, Sector Analysis, Legacy Report: briefing by Parliamentary Budget Office & Committee Staff
1 Jul 2014
The Committee Secretary briefed the Committee on the PBO’s legislative mandate, its core functions, its structure, the scope of its work and how it reported to Parliament.
Members wanted to know what was planned regarding the Money Bills Amendment Act. They commented on the lack of oversight on some entities ...
Finance Standing Committee
Election of Chairperson
25 Jun 2014
The Standing Committee on Finance met for the first time to elect its Chairperson. In a process led by the Committee Secretary, Mr Yunus Carim (ANC) was nominated and seconded, without any objection, as the Chairperson of the Committee.
Mr Carim asked the Members to introduce themselves in order to ...