Taxation Laws Amendment Draft Bill, 2014

The National Treasury has published the Draft Taxation Laws Amendment Bill, 2014, and has asked for comments from the public.

The Bill seeks to amend the Income Tax Act, 1962, so as to:
▪ amend, delete and insert certain definition;
▪ make corrections;
▪ repeal certain provisions;
▪ amend provisions;
▪ make new provision;
▪ and to make textual and consequential amendments;
▪ amend the Value-Added Tax Act, 1991, so as to amend certain provisions and schedules;
▪ repeal the Tax on Retirements Fund Act, 1996;
▪ amend the Securities Transfer Tax Act, 2007, so as to amend a provision;
▪ amend the Employment Tax Incentive Act, 2013, so as to amend certain provisions;
▪ amend the Taxation Laws Amendment Act , 2013, so as to amend certain provision.

Find attached documents here: Media Statement
Draft Explanatory Memorandum on the Taxation Laws Amendment Bill
Draft regulations on section 11D(1)(d)
Draft regulations on section 11D(1)(e)
Draft regulations on paragraph 12D(5)(a) of the 7th Schedule
Draft regulations on paragraph 12D(5)(b) of the 7th Schedule
Draft notice on section 12R
2014 Draft Tax Administration Laws Amendment Bill and Explanatory Memorandum

Comments can be emailed to Nombasa Nkumanda at [email protected] and Adele Collins at [email protected] by no later than Sunday, 17 August 2014.