The Minister of Finance introduced amendments to several tax laws in Parliament on 2 November 2023.
Among the amendments is an insertion into section 10 of the Income Tax Act to prohibit individuals from serving in governance positions in tax exempt organisations if such individual has been declared unfit to be appointed as a director of a company or a trustee of a trust. See clause 3 of the Tax Administration Laws Amendment Bill [B 37—2023].
The Taxation Laws Amendment Bill [B 36—2023] was also introduced, including legislative changes to give effect to matters announced in the 2023 budget speech.
Click here for the Tax Administration Laws Amendment Bill.
Click here for the Memorandum on the objects of the Tax Administration Laws Amendment Bill.
Click here for the Taxation Laws Amendment Bill.