Home  »  Articles   »   Comment Sought on 2020 Revised Fiscal Framework and Revenue Proposals

Articles
Comment Sought on 2020 Revised Fiscal Framework and Revenue Proposals

June 23, 2020

Parliament

Parliament seeks comment on the 2020 Revised Fiscal Framework and Revenue Proposals to be tabled on 24 June 2020.

The Standing Committee on Finance and the Select Committee on Finance invite comment on the proposed 2020 Special Adjustment Budget by no later than 12:00 on Tuesday, 30 June 2020.

Stakeholders interested in making submissions at public hearings scheduled for 1 July 2020 are invited to request this.

National treasury released 2020 Special Adjustment Budget Guidelines last month.

According to treasury, the proposed Special Adjustment Budget “seeks to modify the 2020/21 budget to utilise current baseline allocations to provide for the rapidly changing economic conditions and enable spending on the COVID-19 response”.

Treasury also plans to present a revised fiscal framework to “account for substantial revenue losses emanating from the economic shock of the pandemic and subsequent lockdown”.

Any other adjustments not included in the Special Adjustment Budget will be outlined in the October Medium Term Budget Policy Statement.

The proposed 2020 Special Adjustment Budget will be available on 24 June 2020.

Meanwhile, the Financial Sector Authority, in Government Gazette 43462, announced that amendments to the JSE Debt Listings Requirements – Sustainability Segment have been approved.

The amendments were drawn up in terms of the Financial Markets Act.

The amendments come into effect 30 days after the date of publication of the notice.