The National Treasury and the South African Revenue Service (SARS) has published draft tax bills and draft regulations for 2024, for public comment.
The bills and draft regulations contain tax proposals made in the Budget Speech.
These proposals include the 2024 draft Taxation Laws Amendment Bill (2024 draft TLAB), the 2024 draft Revenue Laws Amendment Bill (2024 draft RLAB), the 2024 draft Tax Administration Laws Amendment Bill (2024 draft TALAB), draft Regulations on the method for determining the VAT liability in respect of casino table games of chance, issued in terms of section 74(2) of the Value-Added Tax Act, 1991, draft Regulations on amendments to the Carbon Offset Regulations prescribing carbon offsets in terms of section 19(c) of the Carbon Tax Act, 2019, and draft Regulations on domestic reverse charge relating to valuable metal in terms of 74(2) of the Value-Added Tax Act.
The 2024 draft tax bills, the accompanying draft Explanatory Memoranda containing a comprehensive description of the propo
sed tax amendments contained in the 2024 draft TLAB, 2024 draft RLAB, draft TALAB, the draft Regulations on determining the VAT liability in respect of casino table games of chance, draft Regulations on domestic reverse charge, draft Regulations on electronic services and Carbon Offset Regulations, can be found on the National Treasury (www.treasury.gov.za) and SARS (www.sars.gov.za) websites.
‘More general information underlying the changes in rates, thresholds or any other tax amendments can be found in the 2024 Budget Review, available on the National Treasury website.
‘With respect to the 2024 RLAB published for comment on 21 February 2024 and public workshops held on 6 June 2024, National Treasury and SARS invite a second round of comments in writing on this revised 2024 draft RLAB,’ the Ministry of Finance said on Thursday.
The public can forward written comments to the National Treasury’s tax policy depository at 2024AnnexCProp@treasury.gov.za and SARS at acollins@sars.gov.za by close of business on
16 August 2024.
National Treasury and SARS invites comments in writing on the 2024 draft TLAB, 2024 draft TALAB, the draft Regulations on determining the VAT liability in respect of casino table games of chance, draft Regulations on domestic reverse charge and draft Regulations on electronic services and Carbon Offset Regulations.
Written comments can be sent to the National Treasury’s tax policy depository at 2024AnnexCProp@treasury.gov.za and SARS at acollins@sars.gov.za by close of business on 31 August 2024.
Source : South African Government News Agency