National Treasury Seeks Technical Tax Suggestions for the 2024 Budget

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The National Treasury is calling for technical tax proposals from taxpayers and the public for the 2024 Budget Review. The proposals should aim to address revenue leakages, loopholes, and technical issues in existing tax legislation. The submission deadline is November 24th, and virtual workshops will take place in December 2023. The final decision on inclusion rests with the Finance Minister.

What is the National Treasury seeking for the 2024 Budget?

The National Treasury is calling for technical tax proposals from taxpayers, tax practitioners, and the public for potential inclusion in Annexure C of the 2024 Budget Review. The proposals should focus on addressing unintentional anomalies, revenue leakages, loopholes, and technical issues in existing tax legislation. The submission deadline is November 24th, and virtual workshops with stakeholders will take place in December 2023. The final decision on inclusion rests with the Finance Minister.

Call for Technical Tax Proposals

Each February, the Finance Minister presents new tax proposals as part of the annual Budget announcement, which is supplemented by the Budget Review, providing further details on the planned amendments to tax laws. As the 2024 Budget draws near, the National Treasury has invited taxpayers, tax practitioners, and the general public to contribute technical tax proposals for potential inclusion in Annexure C of the 2024 Budget Review.

Annexure C mainly encompasses technical tax proposals that address unintentional anomalies, revenue leakages, loopholes, and technical issues necessitating rectification in existing tax legislation. It is important to underline that this invitation does not pertain to major tax policy proposals and rate adjustments, which are dealt with through a separate procedure.

Submission Guidelines and Categories

For effective evaluation, the National Treasury asks that technical tax proposals be submitted under the following categories:

  1. Income tax – individuals, employment, and savings
  2. Income tax – domestic business
  3. Income tax – international
  4. Other taxes, such as carbon tax, excise, and value-added tax
  5. Tax administration legislation

Each technical tax proposal must be comprehensively explained, including the legal nature of the issue, a detailed factual description, and the nature of the affected businesses or individuals. This information will give the National Treasury a complete understanding of the matter, allowing for a thorough assessment.

Deadline and Virtual Workshops

The deadline for submitting technical tax proposals is Friday, 24 November. To address questions arising from the submitted proposals and gather additional information, virtual workshops with stakeholders will take place on 7 and 8 December 2023. These workshops will aid in prioritizing concerns and guarantee that the National Treasury and the South African Revenue Service (SARS) acquire the necessary insights for making informed recommendations.

Following the receipt of submissions and the completion of the virtual workshops, the National Treasury and SARS will present their suggestions to the Finance Minister for potential inclusion in Annexure C of the 2024 Budget Review. It is vital to emphasize that engagement or requests for further information regarding any proposal do not guarantee inclusion in the 2024 Budget Review. The final decision rests solely with the Finance Minister, and no additional correspondence on the Minister’s decision concerning the received proposals will be entertained.

Submission Process and Contact Information

To submit written proposals, interested parties should send their submissions to both the National Treasury at 2023AnnexCProp@treasury.gov.za and SARS at acollins@sars.gov.za. Any substantive tax proposals pertaining to policy changes should be sent separately from the technical tax proposals to Mr. Christopher Axelson, Acting Deputy Director-General: Tax and Financial Sector Policy, at Christopher.Axelson@treasury.gov.za.

Commitment to Inclusivity and Transparency

This invitation reflects the government’s dedication to embracing an inclusive and transparent approach in relation to tax legislation. The collaboration between taxpayers, tax practitioners, and the public with the National Treasury and SARS enables the identification of any loopholes or anomalies that may be inadvertently impacting the current tax system. This process ensures that the tax legislation remains strong, equitable, and effective, ultimately serving the interests of South African citizens and businesses.

Who can submit technical tax proposals for the 2024 Budget Review?

Taxpayers, tax practitioners, and the general public are invited to submit technical tax proposals for potential inclusion in Annexure C of the 2024 Budget Review.

What should technical tax proposals aim to address?

Technical tax proposals should aim to address revenue leakages, loopholes, unintentional anomalies, and technical issues in existing tax legislation.

What is Annexure C of the 2024 Budget Review?

Annexure C mainly encompasses technical tax proposals that address unintentional anomalies, revenue leakages, loopholes, and technical issues necessitating rectification in existing tax legislation.

What are the submission guidelines and categories for technical tax proposals?

Technical tax proposals must be submitted under the categories of income tax – individuals, employment, and savings; income tax – domestic business; income tax – international; other taxes, such as carbon tax, excise, and value-added tax; and tax administration legislation. Each proposal must be comprehensively explained, including the legal nature of the issue, a detailed factual description, and the nature of the affected businesses or individuals.

What is the deadline for submitting technical tax proposals?

The deadline for submitting technical tax proposals is November 24th.

Will there be virtual workshops for submitting technical tax proposals?

Yes, virtual workshops with stakeholders will take place on 7 and 8 December 2023 to address questions arising from the submitted proposals and gather additional information.

Who will evaluate the technical tax proposals?

The National Treasury and the South African Revenue Service (SARS) will evaluate the technical tax proposals.

Who makes the final decision on inclusion of technical tax proposals in the 2024 Budget Review?

The Finance Minister makes the final decision on inclusion of technical tax proposals in the 2024 Budget Review.

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