National Treasury has published the 2021 draft tax Bills

National Treasury published the following Bills in draft, for comment:

(i) 2021 draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (2021 draft Rates Bill)

            Find a copy of the draft Bill here.

Key proposals include changes in rates and monetary thresholds to the personal income tax tables.

(ii) 2021 draft Taxation Laws Amendment Bill

            Find a copy of the draft Bill here.

Key proposals include inter alia changes to section 23M, the use of an assessed loss, curbing abuse of the ETI and refinements of the corporate reorganisation rules.

(iii) 2021 draft Tax Administration Laws Amendment Bill

Find a copy of the draft Bill here.

Key proposals include inter alia removal of double-penalty for the same incidence of non-compliance relating to employees’ tax.

The due date for public comment in respect hereof is 28 August 2021.

Find the media release highlighting key proposals here.

06/08/2021