UPDATED | Minister gives notice of COFI’s ‘introduction’ in National Assembly
Treasury takes the next step in financial sector reform.
Parliament
COFI Bill approved for submission to Parliament
Omnibus AML/CFT Bill also gets the nod for tabling.
High Court: Minister’s power to set VAT rate is unconstitutional
The declaration of invalidity was suspended for 24 months and referred to the Constitutional Court for confirmation.
Letsoalo stand-off: SCOPA vs RAF’s former CEO
Parliament’s announcement that SCOPA will seek the Speaker’s approval to lay criminal charges against former Collins Letsoalo leaves South Africans waiting to see what will happen next.
RAF interim board faces scrutiny amid executive suspensions and reform plans
Deputy Minister of Transport provides updates on plans for a permanent RAF board, the Road Accident Benefits Scheme Bill, and appointing a new CEO.
SCOPA presses former RAF CEO for firm commitment to appear before inquiry
SCOPA has issued a final call for former Road Accident Fund CEO Collins Letsoalo to confirm his attendance at its oversight inquiry, warning that a subpoena may follow if he fails to commit.
GNU secures first Budget as NCOP passes Appropriation Bill
Government departments can now implement their spending plans for services, infrastructure, and social programmes.
RAF board may ditch costly court fight over accounting standards
The Road Accident Fund board is taking steps to address deep-rooted governance and financial issues – from executive suspensions to tightening legal oversight – but Parliament is questioning whether it’s too little, too late.
Fuel levy rises despite court challenge, but price drop cushions blow for motorists
The fuel levy hike remains in force, but a broader court challenge over the finance minister’s power to increase taxes continues.
‘A train wreck’: SCOPA chair tears into RAF board over vacancies and fiscal chaos
Committee chairperson Songezo Zibi slams the Road Accident Fund’s leadership for dysfunction, defying court rulings, and turning oversight into a ‘mockery’.
Constitutionality of the minister’s power to amend tax rates remains untested
UCT tax lecturer Ben Cronin argues that by allowing the minister to amend the income tax rates by announcement in the Budget, Parliament has overstepped its competence, eroding the doctrine that places legislative authority firmly in its hands.
Tight-lipped Treasury braces for tough Budget to plug R75bn shortfall
Finance Minister Enoch Godongwana won’t reveal where the spending cuts or savings will come from but says South Africa must “do more with less”.
Coalition politics hampered Budget consensus, says Godongwana
South Africa’s credibility among investors and ratings agencies will depend on whether the government meets the fiscal targets it has set, says Treasury.
Godongwana given 30 days to revise Budget after VAT reversal
The ANC and the DA present South Africans with different versions of what led to the decision to halt the increase.
South Africa already has wealth taxes, says Kieswetter
Almost half the revenue from personal taxes is derived from people who earn more than R1 million.
MPs insist on due process for Fica amendments aimed at avoiding grey-listing
Parliament’s finance committees last week decided they will not rubber-stamp National Treasury’s proposed amendments to the Financial Intelligence Centre Act (Fica) that are designed to prevent South Africa from being placed on the […]
Sars defends its handling of VAT refunds and taxpayer disputes
The South African Revenue Service (Sars) has defended the way it handles VAT audits after this issue, as well as the time taken to resolve disputes, was raised by the Tax Ombud in […]
