On 05 February National Treasury published an Explanatory Summary of the Customs and Excise Amendment Bill which the Finance Minister intends to introduce in the National Assembly.
The Bill provides for the amendment of the Customs and Excise Act, 1964, and will (i) insert a new provision for the purpose of the administration of allowance in relation to the Carbon Tax Bill, to be introduced in the National Assembly on the same date; (ii) require that a taxpayer as defined in the Carbon Tax Bill must license premises as may be prescribed by rule; (iii) regulate actions pertaining to submission and verification of accounts, collection and payment of the carbon tax; (iv) allow the Commissioner to make rules insofar as it is necessary to regulate duties, powers and rights not regulated by the Carbon Tax Bill in relation to collection and payment of the carbon tax; and (v) provide for matters connected therewith.
Story by: Riaan de Lange