Have Your Say: The Standing Committee on Finance invites stakeholders and interested parties to submit written submissions on the 2025 Rates and Monetary Amounts and Amendment of Revenue Laws Bill (Rates Bill) [B14 – 2025], the draft Taxation Laws Amendment Bill (draft TLAB), and the draft Tax Administration Laws Amendment Bill (draft TALAB)
The Rates Bill aims to:
Fix the rates of normal tax; to amend the Transfer Duty Act, 1949, so as to amend transfer duty monetary thresholds; to amend the Income Tax Act, 1962, so as to amend certain provisions; to amend the Customs and Excise Act, 1964, so as to amend rates of duty in Schedule 1 to that Act; to amend the Employment Tax Incentive Act, 2013, so as to amend certain provisions; to amend the Carbon Tax Act, 2019, so as to amend an amount; and to provide for matters connected therewith.
Public hearings on the Rates Bill will be held on Tuesday, 21 October 2025
Key proposals contained in the draft TLAB include, amongst others, the following:
Reducing the threshold for ring-fencing of assessed losses • Tax treatment of foreign retirement benefits • Refining the definition of “hybrid equity instrument” in section 8E to strengthen the anti-avoidance measures. • Reviewing asset-for-share and amalgamation transactions involving collective investment schemes to close loopholes • Reviewing the VAT treatment of airtime vouchers supplied in South Africa for exclusive use in an export country • Low value importation of goods • Phase 2 of the carbon tax.
Key tax proposals contained in the draft TALAB include, amongst others, the following:
Clarifying the meaning of audit certificate to be issued by public benefit organisations • Providing for a simplified customs entry regime for the entry of goods imported or exported for purposes of express delivery on a door-to-door basis • Dutiability of waste derived from processing imported goods in manufacturing plants • Providing for a customs and excise voluntary disclosure programme • Enabling the VAT Modernisation Project • Inspecting the business premises of a taxpayer applying for registration or approval • Clarifying “bona fide inadvertent error” for purposes of understatement penalties.
Public hearings on the draft TLAB and draft TALAB will be held on Wednesday, 22 October 2025
Submissions must be received by no later than 12:00 on Monday, 20 October 2025.
Those who want to make submissions at the public hearings on Tuesday, 21 and Wednesday, 22 October 2025 should specifically request this. The hearings will be conducted through Zoom
Submissions must be directed to the Committee Secretaries, Mr Allen Wicomb and Ms Teboho Sepanya, 3rd Floor, 90 Plein Street, Cape Town, 8000 or awicomb@parliament.gov.za / tsepanya@parliament.gov.za / tel. (021) 403-3759 / (021) 403-3662.
Issued by Hon. Dr. MJ Maswanganyi, MP, Chairperson: Standing Committee on Finance (National Assembly)
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