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Tag Archives | Select Committee on Finance

anti-money-laundering

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 Financial Action Task Force’s grey list. Grey-listing will have dire consequences for the country’s financial system and will create difficulties for businesses […]

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Bernard-Ngoepe

Finance MPs want action on Tax Ombud’s independence

Parliament’s finance committees have resolved that their respective chairpersons will engage directly with Finance Minister Enoch Godongwana on legislation to make the Office of the Tax Ombud (OTO) “more clearly” financially and operationally independent of the South African Revenue Service (Sars). In a proposal adopted at the conclusion of a joint meeting on Tuesday night, […]

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2021-July-riots

Lloyd’s believes it’s likely SA will see repeat of July riots

Lloyd’s of London believes it is likely there will be a recurrence of last year’s riots, and has hiked its reinsurance premiums paid by the South African Special Risk Association (Sasria). Sasria briefed the National Council of Provinces’ Select Committee on Finance this week. Incoming chief executive Mpumi Tyikwe told the committee that Sasria would […]

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