Draft Taxation Laws Amendment Bill (Friday Page)
03 August 2012
Posted by: SAIT Technical
By Michael Stein (Friday Page)
The Draft Taxation Laws Amendment Bill, 2012 has been posted on the sars website for comment.
And so I will make some general comments:
It is once again a huge piece of legislation, but what is seriously disquieting about it is that it not only contains the usual plethora of draft amendments to the Income Tax Act and other consolidated Acts, such as the Transfer Duty Act, but it also contains a host of draft amendments to previous amendment Acts, some of which fix the dates of those amendments.
In fact, there are almost forty amendments to previous amendment Acts.
This is largely an acknowledgement of past errors, which is bad enough. But it also makes the law even more accessible than ever. This is because few tax practitioners have easy or convenient access to past Acts. In fact, they are fortunate if they even have access to an up to date version of the consolidated Income Tax Act.
The problem is that amendments are passed in a flawed state and then, instead of amending the flawed provision, the authorities now resort to amending the amendment Acts that effected the flawed amendment in the first place.
Please forgive the oxymoron, but this is nothing but organised chaos. It is high time the authorities got their law-making machine in order!