<div class="ewa-rteLine">The Taxation Laws Amendment Bill has been passed by the National Assembly and transmitted to the NCOP for concurrence.</div>
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Taxation Laws Amendment Bill passed

Reduce the undue regulatory burdens that hold back businesses from creating jobs.

<p>The Taxation Laws Amendment Act 42 of 2024,&nbsp; introduces significant changes to the country's tax legislation as means of reduce the burden on business and employment regulations. This includes revision of the Income Tax Act, 1962, Customs and Excise Act, 1964, Value-Added Tax Act, 1991, Securities Transfer Tax Act, 2007 and 2008, Mineral and Petroleum Resources Royalty Act, 2008, Employment Tax Incentive Act,&nbsp; 2023, and a revised carbon tax policy effective from 2026.</p>

The Taxation Laws Amendment  Bill has been assented to and signed by the President.

Simplify and speed up planning and regulatory processes to make it easier for businesses to invest and operate in a municipality, thus creating more jobs

<p>Government has launched a project to prepare for investment on infrastructure, while upgrading and maintaining the current infrastructure.</p>

Government to spend more than R940bn on infrastructure

Increase the scale of investment in infrastructure

<p>President Cyril Ramaphosa has signed into law the Expropriation Bill, which sets out how organs of State may expropriate land in the public interest for various reasons.&nbsp;</p>

President Ramaphosa signs Expropriation Bill into Law

Increase funding to land reform, prioritise the transfer of state land and improve post-settlement support by strengthening the institutional capacity of responsible structures.

Complete the recovery of the passenger rail network across the country to enable people to travel from outlying areas to city centres

Expand the basket of essential food items exempt from VAT and undertake a comprehensive review of administered prices, including the fuel price formula

Manage public finances with a view to stabilising debt

Implement the Freight Logistics Roadmap

Launch the second phase of Operation Vulindlela which will focus on reforming the local government system and improving the delivery of basic services, and harnessing digital public infrastructure as a driver of growth and inclusion.

Invest more than R1.5 trillion in a just transition, including support for workers and communities in Mpumalanga and other coal-producing regions.

Create a green manufacturing sector centred on the export of green hydrogen and associated products, electric vehicles and renewable energy components.

Undertake a just transition towards renewable energy

<p>Government has started work to establish a R500 million joint fund to support township and rural businesses - including local convenience shops.</p>

Government establishing joint fund to support township, rural businesses

Support small- and medium-sized enterprises in townships and rural areas

<p>Government has worked with the China-African Precious Metals Company as means of increasing investment and to create jobs. This company has opened a newly refurbished gold processing plant that is guaranteed to create about 4 000 work opportunities in Orkney in the City of Matlosana Local Municipality, North West.</p>

Government has supported and facillitated the expansion of China-African Precious Metals in North West

Work with stakeholders to develop and implement Master Plans to grow important industries, increase investment, create jobs and foster transformation

Pursue a smart industrial policy that focuses on the competitiveness of our economy, and that incentivises businesses to expand our exports and create jobs

Focus on processing our minerals so that the country exports finished products

Simplify the regulations on public-private partnerships to enable greater investment in both social and economic infrastructure development

Support the growth of rural enterprises and invest in public infrastructure in under-serviced areas.

Improve and uphold workers' rights

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Taxation Laws Amendment Bill passed

The Taxation Laws Amendment Bill has been assented to and signed by the President.