Technical Tax Proposals – Invitation National Treasury has extended an invitation to taxpayers, tax practitioners and members of the public to submit tax proposals of a technical nature (and not of a policy nature) to be considered for possible inclusion in the 2020 Budget Review. The technical tax proposals must be limited to unintended anomalies, revenue leakages, loopholes and technical matters applicable to the current tax legislation that require correction. Tax proposals of a policy nature are dealt with through a different process, and hence this request does not apply to tax policy proposals. The proposals should be limited in number and be prioritised as only the most pertinent issues and concerns will be considered for inclusion in Annexure C (Additional Tax Proposal) of the 2020 Budget Review. The proposals should be submitted by no later than 25 November 2019. Workshops will be held with stakeholders on 04 and 05 December in order to clarify issues raised in the submitted technical proposals, and to further assist in the prioritisation of the issues raised as well as to obtain further information. Following the above process, National Treasury and the South African Revenue Service (Sars) will submit recommendations to the finance minister for possible inclusion in the 2020 Budget. It should be noted that engagement or request for more information on any proposal before the 2020 Budget is no indicator that the proposal will be included in the 2020 Budget Review. The final decision to include any proposal is the sole prerogative of the minister of finance, in consultation with Cabinet, and no further correspondence will be entered into regarding the minister’s response to the proposals received. National Revenue Fund Receipts National Treasury has announced that during the month of October, government’s net domestic short-term loans increased by R7,778 million. Net domestic long-term loans inclusive of redemptions increased by R30,788 million. National Revenue Fund receipts of R150 million were recorded resulting mainly from revaluation profits on foreign currency transactions and premiums on bond transactions. Government’s cash balances decreased by R2 732 million to R292,430 million. The South African Reserve Bank (SARB) accounts, sterilisation and foreign currency deposits, amounted to R223,710 million, whilst cash balances with commercial banks amounted to R68,720 million. Sacu Trade Data Analyst The Southern African Customs Union (Sacu) is searching for a trade data analyst for which applications close on 22 November. The position requires the incumbent to provide policy advice to Sacu institutions as well as technical support to the Technical Liaison Committees. An additional role will be to assist in the formulation and implementation of regional statistical programmes to facilitate the monitoring and achievement of the Sacu, and to conduct analytical and methodological studies and other work to assist Sacu countries to better evaluate the impact of policies and monitor progress towards achievement of the Sacu objectives. Duty Calls Watchlist Comment is due by 15 November on the review of the rebate item on air conditioning machines, and on the replacement of the Price Preference System (PPS) for the export of ferrous and non-ferrous waste and scrap metal.
