URGENT SIGNINGS
Zuma promulgates six finance bills
There was some urgency to some of the finance bills, including the Appropriations Amendment Act
President Jacob Zuma has signed 10 bills — six of them finance-related — into law in record time. There was some urgency to some of the finance bills, such as the Appropriations Amendment Act, the Taxation Laws Amendment Act, the Tax Laws Administration Act and the Rates and Monetary Amounts and Amendment of Revenue Laws Act. The Rates and Monetary Amounts and Amendment of Revenue Laws (Administration) Bill was also passed. This gives effect to the tax proposals of the 2016-17 budget and the budgetary adjustments announced in the medium-term budget policy statement in October. The long parliamentary recess for the local government elections meant these complex bills were adopted much later than usual by Parliament. The Finance Act, which provides for the approval of unauthorised expenditure and the recovery of unauthorised expenditure, has also been signed into law. The Rates and Monetary Amounts and Amendment of Revenue Laws (Administration) Bill provides for a special voluntary di...
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