The South African National Treasury Aug. 1 opened a consultation on the draft Taxation Laws Amendment Bill (TLAB), Revenue Laws Amendment Bill (RLAB), Tax Administration Laws Amendment Bill (TALAB), and various draft regulations to implement the 2024 budget measures. The draft bills and regulations include measures that would: 1) address employment tax incentive abuse and clarify anti-avoidance rules; 2) provide an investment allowance for electric and hydrogen vehicles, align the Carbon Tax Act with updated greenhouse gas emission guidelines, and introduce a renewable energy premium deduction; 3) clarify VAT treatment for nonresident subsidiaries and set a prescription period for input ...
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