Pretoria - The public has until 8 August to comment on the revised 2016 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Amendment Bill, among others.
The amendments, in addition to the 2016 Draft Rates and Monetary Amounts and Amendment of Revenue Laws (Administration) Bill, were published by National Treasury and the South African Revenue Service (SARS).
In a statement on Wednesday, National Treasury said the draft bills contain a revised Special Voluntary Disclosure Programme (SVDP) to give an opportunity to non-compliant taxpayers to voluntarily disclose offshore assets and income.
This comes as the new global standard for automatic exchange of information between tax authorities commences in 2017.
National Treasury and SARS had already asked and received comments on two previous versions of the bills.
On Wednesday, the revenue service and National Treasury said any additional comments on the revisions included in the latest drafts of the bills should be forwarded in writing to Mmule Majola at: mmule.majola@treasury.gov.za and Adele Collins at: acollins@sars.gov.za.
The initial draft bills were published for public comment on 24 February 2016 and 12 April 2016.
The revised draft bills and draft explanatory memorandum containing a comprehensive description of the draft amendments can be found on the National Treasury (www.treasury.gov.za) and SARS (www.sars.gov.za ) websites. – SAnews.gov.za
