National Treasury

Treasury on Municipal Finance Management Act exemptions for municipalities

MFMA exemption notice

The Minister of Finance issued a Ministerial Exemption in terms of section 177(1) (b) of the MFMA on 05 August 2020, exempting municipalities and municipal entities from submitting their annual financial statements and related reports for auditing at the end of August 2020. The notice allows for a two-month delay in the submission of Annual Financial Statements, Annual Reports, Audit opinions, and oversight reports.

Treasury on publication of amended regulations in terms of the Financial Sector Regulation Act, 2017

Publication of Amended Regulations in terms of the Financial Sector Regulation Act, 2017

The Minister of Finance has published amendments to the Financial Sector Regulations as Notice No.850 in Gazette No. 43581 in terms of sections 61(4), 288 and 304 of the Financial Sector Regulation Act No.9 of 2017 (FSR Act). The amendments to the regulations simplify the process for appointing the Commissioner and Deputy-Commissioners of the Financial Sector Conduct Authority (FSCA). The amendments also:

Treasury on IMF approval of US$4.3 billion financial support to South Africa to deal with Coronavirus Covid-19 pandemic

IMF Executive Board approves US$4.3 billion financial support to South Africa to deal with Covid-19 pandemic

The IMF Executive Board has approved South Africa’s request for emergency financial support under the Rapid Financing Instrument (RFI) for an amount of US$4.3 billion to help the country mitigate the adverse social and economic impact of the Covid-19 pandemic.

Treasury on Coronavirus COVID-19 Loan Guarantee Scheme

The Covid-19 Loan Guarantee Scheme was set up to help ease some pressure off qualifying businesses negatively affected by low economic activity following the global lockdown imposed to reduce the spread of COVID-19. It has been reviewed to make it easier to access. Some of the changes include that bank credit assessments and loan approvals will be more discretionary and less restrictive, in line with the objectives of the scheme. In addition, clients are now being able to access the loan over a longer period.

Treasury on approval of R5 Billion loan from African Development Bank to fight Coronavirus Covid-19

African Development Bank Board of Directors approves crisis response budget support of R5 Billion to Fight Covid-19

The Board of Directors of the African Development Bank has approved a loan of approximately R5 billion ($288 million) to the South African Government, as the country battles COVID-19 and an economic slowdown. The purpose of the program is to:

Minister Tito Mboweni, and Deputy Minister David Masondo table 2020/21 National Treasury Dept Budget Vote, 23 Jul

The Minister of Finance, Mr Tito Mboweni, and the Deputy Minister of Finance, Dr David Masondo, will table National Treasury’s Budget Vote on Thursday, 23 July 2020.  
 
The focus of the Budget Vote will be on the National Treasury’s Strategic Plan 2020-2025 and its Annual Performance Plan (APP) 2020/21 which articulates the strategic outcomes the department has committed towards improving living standards.  
 

Minister Tito Mboweni meets new IRBA and SASRIA Board members

Introductory meeting with new IRBA and SASRIA Board members

The Minister of Finance, Mr Tito Mboweni, on the 20th of July met separately with the newly appointed members of the Boards of the Independent Regulatory Board for Auditors (IRBA) and South African Special Risks Insurance Association (SARSIA), to thank them for agreeing to serve on the respective Boards and outline his expectations for the functioning of the Boards.

Treasury on Gazetting of Trade Exposure and Greenhouse Gas Benchmark Regulations and Renewable Energy Premium Notice in terms of Carbon Tax Act

Gazetting of Trade Exposure and Greenhouse Gas Benchmark Regulations and Renewable Energy Premium Notice in terms of the Carbon Tax Act

The Minister of Finance published on Friday, 19 June 2020 in Gazette Nos 43451, 43452 and 43453 the following regulations for the trade exposure and greenhouse gas (GHG) emission intensity benchmark performance allowance, and the notice for the renewable energy premium, in terms of the Carbon Tax Act (Act No. 15 of 2019):

Minister Tito Mboweni delivers virtual Supplementary Budget speech to Parliament, 24 Jun

The Minister of Finance, Mr Tito Mboweni, will deliver a Supplementary Budget speech on Wednesday, 24 June 2020 from 15:00 – 16:00.  The Budget delivery can be viewed live on Parliamentary channel 408 (dstv).  

The following Supplementary Budget documents will be uploaded on the National Treasury’s Website on www.treasury.gov.za as soon as Minister starts speaking in Parliament. The documents will also be emailed to media: 

Treasury invites comments on Proposed Amendments to the Schedules to the Financial Intelligence Centre Act, 2001

Proposed Amendments to the Schedules to the Financial Intelligence Centre Act, 2001

National Treasury and the Financial Intelligence Centre (FIC) invite public comments on proposed amendments to Schedules 1, 2 and 3 to the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001) (FIC Act). The proposed amendments to Schedules 1, 2 and 3 to the FIC Act seek to strengthen the financial system and improve its resilience against abuse by money launderers and terrorist financiers.

Minister Tito Mboweni delivers virtual Supplementary Budget speech to Parliament following outbreak of Coronavirus Covid-19, 24 Jun

The Minister of Finance, Mr Tito Mboweni, will deliver a Supplementary Budget speech on Wednesday, 24 June 2020.

A Supplementary Budget has been necessitated by President Cyril Ramaphosa’s announcement that government would spend R500 billion to support the economy following the outbreak of the coronavirus.

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