5 new finance bills passed on to be signed into law

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Brasil Últimas Notícias,Brasil Manchetes

Parliament has been scrambling to pass financial legislation prior to the conclusion of the year- here are 5 new additions.

The bills generally relate to the country’s 2022 budget revisions, making provision for the divvying up of the budget and following through on promises made by finance minister Enoch Godongwana during his speech.The Adjustments Appropriation Bill and Special Appropriation Bill, meanwhile, deal with the various bailouts or payments given to state companies in the minister’s October budget, including the 70% payment of Sanral’s e-toll debt.

Parliament further noted that key proposals in the bill also include the imposition of understatement penalty for employment tax incentives improperly claimed, advance rulings under the Customs and Excise Act, as well as addressing the issue of tax compliance. Of the total in-year adjustments of R13 billion, R7.24 billion is with respect to direct charges against the NRF.

 

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