Inviting Technical Tax Proposals For Annexure C Of The Budget Review
14 November 2013
Posted by: Author: National Treasury
Author: National Treasury
The National Treasury invites taxpayers,
tax practitioners and other interested parties or members of the public, to
submit any technical proposals to improve or correct current tax legislation, including
the closing of loopholes and unintended anomalies. Proposals received will be
considered for possible inclusion in Annexure C of the 2014 Budget Review,
released as part of the 2014 Budget Review.
The Budget Review contains
announcements for upcoming tax legislation, with major tax proposals contained
in Chapter 4. Minor or miscellaneous
proposals that address unintended anomalies, loopholes and technical matters
requiring correction are generally contained in Annexure C.
The proposals to be submitted are for
Annexure C only, and not for any major tax proposals.
Proposed Annexure C changes must fit
within the current tax policy framework, and must take into account potential
revenue implications, as Annexure C proposals are not intended to have a
significant revenue impact. It should further
be emphasised that the timeframe for tax legislation remains limited. As such, so only critical matters will be
considered with each matter being prioritised against other legislative tax
Please submit your proposals in the
required format so that we can properly assess their merits and importance
vis-à-vis other proposals. More
specifically, each proposal should contain:
(i) the legal nature of the problem, (ii) a "detailed” factual description
of the relevant transaction (very important!), and (iii) the nature of the
businesses impacted by the problem.
All proposals should be grouped in
topic areas for ease of review. These
groupings should be divided as follows:
(i) income tax - individuals, employment and savings, (ii) income tax -
domestic business, (iii) income tax – international, and (iv) other taxes (e.g.
value-added tax as well as the mineral and petroleum royalty).
IV. Timing and workshop
Annexure C proposals should be
submitted no later than 29 November 2013.
To facilitate the review process, it
is intended that workshops will be held on 4 and 5 December 2013. The workshop(s)
will serve to clarify issues raised in the written submissions and to assist in
the prioritisation of issues. Upon
completion of the workshop, recommendations for Annexure C will be transmitted
to the Minister of Finance for his consideration.
It should be noted that the mere
discussion of tax proposals before the Budget is no guarantee that the
proposals discussed will eventually be included in the Budget Review. The final decision to include proposals is
the prerogative of the Minister of Finance.
Any major tax proposals will not be the subject of discussion at the
All proposals and/or comments should be submitted to the technical department of The SAIT at email@example.com. Please do not hesitate to contact us should you have any queries at the above e-mail address.