The National Treasury has invited the public to submit tax proposals for 2019 Budget Review.
The Treasury said in a statement on Thursday that the technical tax proposals requested in this invitation must be limited to unintended anomalies, revenue leakages, loopholes and technical matters applicable to the current tax legislation that require correction.
“The Minister of Finance announces main tax proposals in the Budget Speech in February every year. The Budget Review provides additional information on the tax proposals made in the Budget and proposed changes to tax legislation.
“Major tax policy proposals are contained in Chapter 4 of the Budget Review and the more technical tax proposals are generally contained in Annexure C of the Budget Review,” the Treasury said.
To ensure proper assessment, technical tax proposals should be submitted under the following headings:
- income tax – individuals, employment and savings;
- income tax – domestic business;
- income tax – international;
- other taxes – for example, value added tax, mineral and petroleum resource royalty; and
- tax administration legislation.
The Treasury said each technical tax proposal must be explained in detail with each explanation covering the following areas:
- the legal nature of the problem;
- a detailed factual description of the affected transaction; and
- the nature of the business(es) impacted.
- Members of the public seeking to submit the requested technical proposals have been urged to do so by 23 November 2018.
“In order to clarify issues raised in the submitted technical proposals and to further assist in the prioritisation of the issues raised, workshops will be held with stakeholders on 6 and 7 December 2018 where further information is required.
“The dates for the workshops will be confirmed by way of an electronic invitation to taxpayers, tax practitioners and members of the public. Please ensure that correct e-mail addresses and contact information are included in the written submissions,” the Treasury said.