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Have Your Say: Draft Rates and Monetary Amounts and Amendment of Revenue Laws “Vat” Bill

The Standing Committee on Finance and the Select Committee on Finance invites stakeholders and interested parties to submit written submissions on the Draft Rates and Monetary Amounts and Amendment of Revenue Laws “VAT” Bill.

The Draft Rates and Monetary Amounts and Amendment of Revenue Laws “VAT” Bill aims to:

  • fix the rates of normal tax;
  • amend the Estate Duty Act, 1955, so as to amend the rate of estate duty;
  • to amend the Income Tax Act, 1962, so as to amend rates of tax and monetary amounts;
  • amend the Customs and Excise Act, 1964, so as to amend rates of duty in Schedule 1 to that Act;
  • amend the Value-Added Tax Act, 1991, so as to amend the rate of the Value-Added Tax;
  • amend a provision so as to provide for more efficient taxation of electronic commerce; and
  • provide for matters connected therewith.

Public hearings will be conducted at Parliament on 25 April and 2 May 2018.

Submissions and your indication to make oral presentation must be received by no later than 12:00 on Friday, 20 April 2018.

Submissions must be directed to the Committee Secretaries, Mr Allen Wicomb and Ms Teboho Sepanya (Standing Committee on Finance) and Mr Zolani Rento (Select Committee on Finance), 3rd Floor, 90 Plein Street, Cape Town, 8000 or awicomb@parliament.gov.za / tsepanya@parliament.gov.za / zrento@parliament.gov.za tel. (021) 403-3759 / (021) 403-3738 / (021) 403-8071 or fax: (021) 403-3942.

Issued by Hon. YI Carrim, MP, Chairperson: Standing Committee on Finance (National Assembly) and Hon. CJ De Beer, MP, Chairperson: Select Committee on Finance (National Council of Provinces).