2023 Rates Bill, TLAB & TALAB

The Select Committee on Finance invites you to submit written submissions on the 2023 Rates and Monetary Amounts and Amendment of Revenue Laws Bill (2023 Rates Bill), 2023 Taxation Laws Amendment Bill (2023 TLAB) and 2023 Tax Administration Laws Bill (2023 TALAB)

Key tax proposals contained in the 2023 Rates Bill include the following:

• Changes in rates and monetary thresholds to the personal income tax tables
• Changes in monetary thresholds for transfer duty
• Increases of the excise duties on alcohol and tobacco

Key tax proposals contained in the 2023 TLAB include the following

• Rooftop solar tax incentive
• Renewable energy tax incentive
• Research and Development tax incentive
• Urban Development Zone tax incentive
•Adjusting the minimum royalty rate for oil and gas companies
• Reviewing principles contained in Practice Note 31 of 1994
• Clarifying anti-avoidance rules dealing with third-party backed shares
• Refining the provisions applicable to unbundling transactions
• Tax treatment of deposit insurance scheme
• Clarifying the foreign business establishment exemption for controlled foreign companies
• Refining the participation exemption for the sale of shares in foreign companies
• Reviewing the VAT treatment of specific supplies in the short-term insurance industry

Clarifying the VAT treatment of prepaid vouchers in the telecommunications industry

Key tax proposals contained in the 2023 TALAB include the following:

• Advance Pricing Agreement Programme
• Employees’ tax registration requirement for non-resident employers
• Variation of employees’ tax withholding in respect of remuneration
• Expanding the general disclosure provisions for section 18A approved organisations
• Single window for advance passenger information and passenger name record data
• Enabling SARS’ new online traveller management system
• Expending the time period to submit a return where taxpayers disagree with an auto assessment.

Alignment with anti-money laundering and combatting terrorism developments.

Those who want to make submissions at public hearings on Wednesday, 29 November 2023 should specifically request this. These hearings will be conducted through Zoom.

Submissions can be emailed to Mr Nkululeko Mangweni at [email protected] by no later than 12:00 on Tuesday, 28 November 2023.

Enquiries can be directed to Mr Nkululeko Mangweni on tel (021) 403 3782.

Issued by Hon. Y Carrim, MP, Chairperson: Select Committee on Finance (National Council of Provinces)


Track the bill here
Track the bill here
Track the bill here

How to write a submission