NEWS FROM BUSA: COMMENT ON THE EXCHANGE OF INFO BETWEEN COMPETITORS
Herewith are highlights from the latest BUSA bulletin to members:
Draft BUSA submission on the 2017 draft Taxation Laws Amendment Bill (TLAB)
BUSA requests members to provide their input or comments on its Draft submission on the 2017 draft Taxation Laws Amendment Bill for incorporation in the final BUSA submission. Friday 25 August .Please send us your input to Tebogo@tbcsa.travel
Attached is a draft with key points from BUSA to consider:
In summary: Why the Taxation Laws Amendment Bill
On 19 July 2017 National Treasury and the South African Revenue Service (SARS) published for public comment the 2017 Draft Taxation Laws Amendment Bill and the 2017 Draft Tax Administration Laws Amendment Bill. Together with the 2017 Draft Rates and Monetary Amounts and Amendment of Revenues Laws Bill (Rates Bill) published on 22 February 2017, these three draft Bills give effect to the tax proposals announced on Budget Day (22 February 2017), as published in the Budget Review. The two draft Bills released on 19 July 2017 include most of the more complex and administrative tax proposals but exclude the proposals dealt within the Rates Bill, such as changes to the personal income tax brackets and rates and excise duties, and the introduction of the Health Promotion Levy (the proposed sugary beverage tax). Click here to understand more on the Bills via an info alert published by Cliffe Dekker Hofmeyr on 20 July 2017.
A perspective from BUSA. BUSA welcomes the publication by National Treasury and SARS of the 2017 draft Taxation Laws Amendment Bill (TLAB). It states further that in order for South Africa to achieve inclusive growth to address the triple challenges of unemployment, poverty and inequality, a fair and efficient revenue collection system and appropriately designed tax policies are critical. Whilst BUSA understands that the 2017 draft Taxation Laws Amendment Bill (“TLAB”), along with the draft Tax Administration Laws Amendment Bill (“TALAB”), deal with complex administrative and technical matters to give effect to proposals published in the 2017 Budget Review, this submission deals with high-level aspects of the TLAB that BUSA feels are of wider economic relevance. BUSA also encourages both National Treasury and the Select Committee to study the submission in detail, particularly with a view to obtaining greater detail from a sectoral perspective.
Click Here to download a zipped folder to view the following:
- The 2017 Draft Taxation Laws Amendment Bill (TLAB) – 19 July 2017
- 2017 Draft Explanatory Memo on the 2017 Draft TLAB – 19 July 2017
- Draft BUSA submission on the 2017 TLAB
Call for Comment on Draft BUSA on Guidelines on the Exchange of Information between competitors under the Competition Act no.98 of 1998
BUSA requests members to provide inputs or comments on its Draft submission on the Guidelines on the Exchange of Information between Competitors for incorporation in the final version of the BUSA submission. Please send your input to Tebogo@tbcsa.travel by Tuesday 29 August 2017.
In summary: Why the Competition Commission published Draft Guidelines
The Commission identified a need to provide guidance to both public and private stakeholders, as well as industry associations, on the sharing of information between competitors. From time to time industry associations and other stakeholders request advisory opinions from the Commission on setting up information exchange systems and it is apparent that there is some uncertainty on what constitutes permissable and impermissible information exchange within the framework of the provisions set in the Act. There is clearly a need for the Commission to provide guidance to relevant stakeholders on the type of information exchange that may potentially be harmful to competition and the type that may enhance efficiencies.
BUSA welcomes the publication by the Competition Commission of the draft Guidelines and believes it will go a significant way towards not only providing certainty on information and data collection between competitors, but also for trade and industry associations to determine parameters within which the exchange of information may legitimately take place.
Click here to view the full Draft Gazetted Guidelines and BUSAs submission.