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.
Story by: Riaan de Lange
