The National Treasury has invited taxpayers, tax practitioners and members of the public to submit technical tax proposals to be considered for possible inclusion in the 2024 budget review.
“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,” National Treasury said in a statement on Friday.
More substantive tax policy proposals and rate changes are dealt with through a different process, and hence this request does not apply to major tax policy proposals.
The Minister of Finance announces new tax proposals in the Budget in February every year.
“The Budget Review, published with the Budget Speech, provides additional information on the tax proposals made in the Budget as well as proposed changes to tax legislation. More substantive tax policy proposals and rates changes are contained in Chapter 4 of the Budget Review, while the more technical tax proposals are generally contained in Annexure C of the Budget Review,” National Treasury said.
The requested technical proposals should be submitted by no later than Friday, 24 November 2023.
In an effort to clarify issues raised in the submitted technical proposals, to further assist in the prioritisation of the issues raised and to obtain further information, virtual workshops will be held with stakeholders on 7 and 8 December 2023.
The dates for the workshops will be confirmed by an electronic invitation to taxpayers, tax practitioners and members of the public who submitted proposals.
The public is advised to ensure that correct e-mail addresses and contact information are included in their written submissions.
“Following the above process, National Treasury and South African Revenue Service (SARS) will submit recommendations to the Minister of Finance for possible inclusion in Annexure C of the 2024 Budget Review.
“It should be noted that engagement or request for more information on any proposal before the 2024 Budget is no indicator that the proposal will be included in the 2024 Budget Review.
“The final decision to include any proposal is the sole prerogative of the Minister of Finance and no further correspondence will be entered into regarding the Minister’s decision on the proposals received,” National Treasury said.
Written submissions should be sent to National Treasury 2023AnnexCProp@treasury.gov.za and SARS acollins@sars.gov.za.
Any substantive tax proposal relating to a policy change should be addressed, separately from the technical tax proposals requested under this invitation, to Mr Christopher Axelson, Acting Deputy Director General: Tax and Financial Sector Policy, at Christopher.Axelson@treasury.gov.za. –SAnews.gov.za
