Regulatory Round-up: December 2020 – February 2021 – Tax

Key tax proposals contained in the act include the following:

• Proposed introduction of export taxes on scrap metals;
• Tax measures required as a result of the modernisation of the foreign exchange control system;
• Aligning the carbon fuel levy adjustment with the Carbon Tax Act;
• Allowing a carbon tax “pass through” for the regulated liquid fuels sector;
• Addressing an anomaly in the tax exemption of employer provided bursaries;
• Clarifying rollover relief for unbundling transactions; and
• Consequential amendments as a result of 2019 changes to section 72 of the VAT Act.