DRAFT TAXATION LAWS AMENDMENT BILL
The National Treasury invites taxpayers, tax practitioners and members of the public to submit written comments on the 2020 Draft Taxation Laws Amendment Bill, 2020 Draft Tax Administration Laws Amendment Bill, 2020 Draft Regulations Prescribing Electronic Services and request all Venture Capital Companies (VCCs) registered with SARS as at 1 March 2020 to submit to the Minister of Finance information prescribed in the VCC survey as mandated in terms of section 12J(10) of the Income Tax Act, 1962.
The requested written comments and the completed VCC survey should be submitted by no later than Monday, 31 August 2020. Further details can be found in the Media Statement inviting such submissions on the National Treasury website by following this link: http://www.treasury.gov.za/public comments/TLAB and TALAB 2020 Draft/
2020 DRAFT RATES AND MONETARY AMOUNTS AND AMENDMENT OF REVENUE LAWS BILL
The National Treasury and the South African Revenue Service (SARS) published, for public comment, the 2020 draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (2020 draft Rates Bill), and the draft Regulations Prescribing Electronic Services. The 2020 draft Rates Bill was first published on Budget Day (26 February 2020) but is published for the second time in order to solicit any public comments on the tax proposals contained therein. These draft Tax Bills contain tax proposals made in the 2020 Budget on 26 February 2020.
We urge you to read the attached document that outlines the tax proposals. We also urge you to provide comments into these draft Tax Bills via the stipulated email addresses that appear in the attachment.