The 2019 Draft Division of Revenue Bill will be tabled in parliament on 20 February during Budget 2019.
National Treasury published the draft bill’s explanatory summary in Government Gazette 42217.
According to the explanatory summary, the draft bill proposes to provide for-
• the equitable division of revenue raised nationally among the national, provincial and local spheres of government for the 2019/2020 financial year;
• the determination of each province’s equitable share of the provincial share of that revenue;
• any other allocations to provinces, local government or municipalities from the national government’s share of that revenue, and for any conditions on which those allocations may be made; and
• matters connected therewith.
Meanwhile, in Gazette 42218, the South African Revenue Service has published amendment of rules (DAR 180) in terms of the Customs and Excise Act.
Rule 63.01, 63.02, 63.03, 63.04 and 63.05, focused on still makers and still importers, is substituted with a new rule.
New rules on the manufacture of excisable goods solely for use by the manufacturer are also inserted.
In Notice 122, SARS published amendments to rules (DAR 179).
Rule 75(24) gets a new heading on the keeping of a register by rebate users of excisable goods used in the manufacture of non-alcoholic beverages, foodstuffs and other non-liquor products or excisable goods for industrial use.
In a separate matter, the South African Reserve Bank, in Gazette 42217, published a number of notices in terms of the Banks Act and the Co-operatives Banks Act.
One of the notices indicates that Barclays Bank PLC has been granted consent to set up a representative office in South Africa.
Another notice also confirms that Barclays Africa Group Limited changed its name to Absa Group Limited in 2018.