The 2020 Tax Administration Laws Amendment Act has been signed into law.
Parliament passed the bill and sent it to president Ramaphosa for assent in December 2020.
It was tabled in parliament on 28 October 2020 during the Medium Term Budget Policy Statement.
The national assembly passed the bill and sent it to the national council of provinces for concurrence in November 2020.
Key tax proposals contained in the act, published in Government Gazette 44080, include the following:
• Amendments enabling the proposed introduction of an export tax on scrap metals;
• Removal of the requirement to prove intent with regard to certain offences listed in the Fourth Schedule to the Income Tax Act, the Value-Added Tax Act and the Tax Administration Act;
• Refusal to authorise a refund where returns are outstanding under the Skills Development Levies Act and the Unemployment Insurance Contributions Act;
• Withholding of a refund pending a criminal investigation; and
• Estimated assessments where relevant material requested by SARS has not been supplied.
Save in so far as is otherwise provided for in the act, or the context otherwise indicates, the amendments effected by the act come into operation on the date of promulgation of the act.
Meanwhile, national treasury seeks comment on two candidates for consideration for appointment to the position of Commissioner of the Financial Sector Conduct Authority (FSCA).
The FSCA Shortlisting Panel commenced its work on 16 September 2020.
5 candidates were shortlisted from a list of 90 applications and interviews were conducted on 21 November 2020.
Following interviews, the panel decided to recommend Astrid Ludin and Unathi Kamlana to the minister.
Comment is invited until 26 January 2021.
The candidates’ CVs can be viewed at www.treasury.gov.za.