National Treasury has “loosened the lids” on the pots in the two-pot retirement system, agreeing to amend the draft legislation so that fund members will be able to access the savings they accumulated […]
The Association for Savings and Investment South Africa (Asisa) has welcomed National Treasury’s decision to move out, by a year, the date for implementing the two-pot retirement system but still believes the new […]
National Treasury has proposed amending the draft two-pot retirement legislation to clear up a number of grey areas identified by stakeholders. The proposed changes were announced on Tuesday, when Treasury addressed the National […]
The Association for Savings and Investment South Africa (Asisa) says retirement funds and administrators would like at least 18 months from the date on which the final legislation is gazetted in which to […]
Cosatu has called for fund members to be allowed to access their accumulated savings when the two-pot retirement system takes effect, to prevent them from resigning and cashing out their savings. This was […]
National Treasury has reiterated its message that changing legislation will not be enough to avert a potential grey-listing next year; the authorities will have to demonstrate commitment and progress with enforcing legislation aimed […]
The Financial Intelligence Centre (FIC) will work with entities that become accountable institutions in terms of the amendments to the Financial Intelligence Centre Act (Fica), to help them bed down compliance with the […]
EFF MP Floyd Shivambu lambasted South African Reserve Bank (Sarb) Governor Lesetja Kganyago for not responding to a letter asking the central bank to confirm or deny whether President Cyril Ramaphosa had disclosed […]
Only areas of business where there was no risk of money laundering could be excluded from the ambit of the Financial Intelligence Centre Act (Fica), whereas even low-risk businesses should be accountable institutions, […]
Outsurance Life has proposed that long-term insurers that provide risk products should be excluded as accountable institutions, saying the increased cost of compliance was not proportionate to the low risk these products posed […]
Parliament’s finance committees last week decided they will not rubber-stamp National Treasury’s proposed amendments to the Financial Intelligence Centre Act (Fica) that are designed to prevent South Africa from being placed on the […]
The South African Revenue Service (Sars) has defended the way it handles VAT audits after this issue, as well as the time taken to resolve disputes, was raised by the Tax Ombud in […]
Parliament’s finance committees have resolved that their respective chairpersons will engage directly with Finance Minister Enoch Godongwana on legislation to make the Office of the Tax Ombud (OTO) “more clearly” financially and operationally […]
As we reported last week, National Treasury has revised some of the levies that FSPs will have to pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill. […]
National Treasury has proposed lowering some of the levies that FSPs will pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill, to reduce the impact on small […]
Parliament’s Standing Committee on Finance has tasked National Treasury with producing a report on how the Financial Sector and Deposit Insurance Levies Bill will impact consumers and small entities. Read: FSPs face paying […]
There will be dire consequences for the economy if South Africa’s measures to combat money laundering and terrorism financing are not brought up to international standards this year, the Financial Intelligence Centre (FIC) […]
