sars tax
Alison Lee

Alison Lee

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

Ramaphosa assents to 2020 Taxation Laws Amendment Act

President Ramaphosa has signed the 2020 Taxation Laws Amendment Act into law. Parliament passed the bill and sent it for assent in December 2020.

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.


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