Concern About Number of Proposed Technical Changes to Tax Laws
13 September 2013
Posted by: Author: Moneywebtax
Author: Erich Bell (SAIT)
Tax commentators are concerned about the number of technical amendments proposed to tax legislation.
This became evident during a briefing by National Treasury and Sars to Parliament's Standing Committee of Finance (ScoF) on the feedback of the 86 written submissions received during the public commentary phase. National Treasury also tabled a draft response document for consideration by the Committee.
In the opening presentation by Cecil Morden, Chief Director at National Treasury, it was conceded that many commentators raised the concern that too many technical amendments were introduced, and particularly the fact that limited time is available for public comment.
Another matter that received attention, is the number of retrospective amendments proposed by National Treasury, as well as the unintended consequences resulting from the wide ranging nature of some of the amendments.
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This article first appeared in moneywebtax.co.za