Fiscal Framework and Revenue ProposalsCall for comments opened 19 February 2016 Share this page:
Submissions are now closed (since 29 February 2016)
The Standing Committee on Finance and the Select Committee on Finance invites you to submit written submissions on the Fiscal Framework and Revenue Proposals that will be tabled together with the 2016 Budget on 24 February 2016.
The Money Bills Amendment Procedure and Related Matters Act, Act No 9 of 2009 defines the· fiscal framework as follows:
The framework for a specific financial year that gives effect to the national executive's macro- economic policy and includes-
(a) Estimates of all revenue, budgetary and extra-budgetary specified separately, expected to be raised during that financial year;
(b) Estimates of all expenditure, budgetary and extra-budgetary specified separately, for that financial year;
(c) Estimates of borrowing for that financial year;
(d) Estimates of interest and debt servicing charges; and·
(e) indication o! the contingency reserve necessary for an appropriate response to emergencies or other temporary needs, and other factors based on similar objective criteria.
Public hearings will be conducted at Parliament on 02 March 2016.
Please note submissions and request to make oral presentation must be received by no later than 12:00 on Monday, 29. February 2016.
Comments can be emailed to Mr Allen Wicomb (Standing Committee on Finance) at email@example.com and to Mr Zolani Rento (Select Committee on Finance) at firstname.lastname@example.org by no later than 12:00 on Monday, 29. February 2016.
Enquiries can be directed to Mr Allen Wicomb on tel. (021) 403-3759 or Mr Zolani Rento on tel (021) 403-8071
Copies of the Fiscal framework and Revenue Proposals will be available on 24 February 2016 at www.treasury,gov.za
Issued by Hon. YI. Carrim, MP, Chairperson: Standing Committee on Finance (National Assembly) and Hon. CJ De Beer, MP, Chairperson: Select Committee on finance (National Council of Provinces).