Government, parliamentary and legislative information on financial matters, including National Treasury and SARS.
A third draft of the ministerial regulations made in terms of the Financial Markets Act (FMA) has been released for comment.
According to a national treasury statement, the proposed regulations are necessary to meet South Africa’s commitment to the G20 decision to implement regulatory and legislative reforms to make financial markets safer.
The proposed Special Voluntary Disclosure Programme (SVDP) in respect of offshore assets and income has been revised.
National treasury has published a revised 2016 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Amendment Bill and 2016 Draft Rates and Monetary Amounts and Amendment of Revenue Laws (Administration) Bill for comment.
The capacity of tax and customs agencies at a global level needs to be boosted in order to adequately deal with the abuse of the tax system between countries.
The finance minister, Pravin Gordhan, emphasised this during an address at the High Level Conference on Illicit Financial Flows held in Pretoria.