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CLIMATE CHANGE
Presidential Climate Commission (PCC)
Scaling finance to support a just transition
Summary of Intent
The financing of South Africa's just transition necessitates a multifaceted approach to support those impacted by decarbonisation and to harness opportunities in the low-carbon economy. Approximately R574bn by 2030 and R1.9tn by 2050 is needed. The PCC report:
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TAXATION
National Treasury
South African Revenue Services
VAT enhancements for estimated assessments
Summary of Intent
The estimated assessment functionality has now been implemented for VAT. If a vendor does not provide the relevant material requested by SARS during the VAT verification process, SARS may raise an estimated assessment in terms of section 95(1)(c) of the Tax Administration Act. The following should be noted:Your membership level does not allow you access to this content. If you feel you should have access on the below document, please log-in or Contact Us
National Treasury
South African Revenue Services (SARS)
Customs and Excise Act
Draft amendments
Summary of Intent
SARS has published on 11 December 2023, draft amendments to rules under sections 21, 60 and 120 for public comment until 12 January 2024. The rules provide for the storage of imported fuel levy goods in special customs and excise storage warehouses and for licensing of marine removers of fuel levy goods. Amendments include:
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TRANSPORT
Department of Transport
South African National Roads Agency Limited (Sanral)
National Roads Act
Amended road declarations
Summary of Intent
Sanral has published various amendments of road declarations and declared provincial roads as national roads. The roads are:Your membership level does not allow you access to this content. If you feel you should have access on the below document, please log-in or Contact Us
ENERGY
Department of Trade, Industry and Competition
Competition Act
Extension of exemption for the South African Petroleum Industry Association (SAPIA) and members
Summary of Intent
On 22 December 2015, SAPIA and its members applied to the Competition Commission of South Africa to be exempted from certain provisions of section 4 of the Act. The exemption was sought for a period of 5 years from 1 January 2016 ending on 31 December 2020. The Commission extended the exemption several times with the extension ending on 30 November 2023.Your membership level does not allow you access to this content. If you feel you should have access on the below document, please log-in or Contact Us
ECONOMICS
Business Unity South Africa (BUSA)
Economic Week Ahead
Summary of Intent
BUSA provides a weekly Economic Week Ahead forecast, as well as commentary.
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Business Unity South Africa (BUSA)
Weekly Economic Briefing
Summary of Intent
BUSA provides a weekly Economic Briefing report that covers economic matters in South Africa, the rest of Africa as well as internationally.
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