2020 Draft Tax Bills & Rates Bill

Call for comments opened 31 July 2020 Share this page:

Submissions are now closed (since 31 August 2020)

Finance Standing Committee

The National Treasury and the South African Revenue Service (SARS) published the 2020 draft Taxation Laws Amendment Bill (2020 draft TLAB) and the 2020 draft Tax Administration Laws Amendment Bill (2020 draft TALAB) for comment. The 2020 draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (2020 draft Rates Bill) was also re-published for a second time for input.

Comments must be sent to 2020AnnexCProp@treasury.gov.za and acollins@sars.gov.za by close of business on 31 August 2020.

 

Key tax proposals contained in the 2020 draft Rates Bill include the following:

• Changes in rates and monetary thresholds to the personal income tax tables

• Adjustment of transfer duty rates to support the property market

• Increases of the excise duties on alcohol and tobacco

Key tax proposals contained in the 2020 draft TLAB include the following:

• Proposed introduction of export taxes on scrap metals

 • Tax measures required as a result of the modernisation of the foreign exchange control system

• Aligning the carbon fuel levy adjustment with the Carbon Tax Act

• Allowing a carbon tax “pass through” for the regulated liquid fuels sector

• Addressing an anomaly in the tax exemption of employer provided bursaries

• Clarifying rollover relief for unbundling transactions

• Consequential amendments as a result of 2019 changes to section 72 of the VAT Act

Key tax proposals contained in the 2020 draft TALAB include the following:

• Amendments enabling the proposed introduction of an export tax on scrap metals

• Removal of the requirement to prove intent with regard to certain offences listed in the Fourth Schedule to the Income Tax Act, the Value-Added Tax Act and the Tax Administration Act

• Refusal to authorise a refund where returns are outstanding under the Skills Development Levies Act and the Unemployment Insurance Contributions Act

• Withholding of a refund pending a criminal investigation

• Estimated assessments where relevant material requested by SARS has not been supplied

 

Read:

National Treasury Media Statement

Explanatory Memorandum: Draft TLAB

Explanatory Memorandum: Draft TALAB