Banks Act Regulations Amended
National Treasury Banks Act Regulations have been amended. National treasury published the amendments in Government Gazette 44003. Regulations 1 to 67 are amended by the removal of all references to…
Parliament Passes Division of Revenue Second Amendment Bill
Parliament The Division of Revenue Second Amendment Bill has been passed by parliament and sent to president Ramaphosa for assent. The bill was tabled in parliament on 28 October 2020…
NCOP Briefed on 2020 Tax Bills
National Treasury A differentiated approach was adopted in the tabled 2020 Tax Administration Laws Amendment Bill where, rather than do away with intent entirely, offences are categorized into those for…
Exchange Control Circular 15/2020 Under Review
National Treasury Exchange Control Circular 15/2020 is under review. In a joint statement, national treasury, the South African Reserve Bank and Financial Sector Conduct Authority indicated that the review follows…
Postbank Designated as Clearing System Participant
South African Reserve Bank The South African Postbank SOC Limited has been designated as a clearing system participant. The South African Reserve Bank (SARB) announced the designation in Government Gazette…
Parliament Gives Green Light to 2020 MTBPS
Parliament Parliament has agreed to the Fiscal Framework and Revenue Proposals contained in the 2020 Medium Term Budget Policy Statement (MTBPS). The 2020 MTBPS was tabled in parliament on 28…
Treasury Seeks Technical Tax Proposals for 2021 Budget
National Treasury National treasury has called on taxpayers, tax practitioners and members of the public to submit technical tax proposals to be considered for possible inclusion in Annexure C of…
Customs and Excise Act Rules Amended
South African Revenue Service Customs and Excise Act Rules have been amended. The South African Revenue Service (SARS) published the amended Rules in Government Gazette 43811. Rule 59A.01A is amended…
Standard on Tax Information Amended
South African Revenue Service Changes have been introduced to the Organisation for Economic Cooperation and Development Standard for Automatic Exchange of Financial Account Information in Tax Matters. The South African…
Procurement During COVID-19 Under the Spotlight
National Treasury National treasury and the Auditor-General will publish Preventative Control Guides on 9 September 2020. Treasury announced this in a briefing to parliament on procurement during the COVID-19 pandemic.…