The Taxation Laws Amendment Bill, 2015 (“TLAB 2015”)
The Taxation Laws Amendment Bill, 2015 (“TLAB 2015”) was passed by the National Assembly on the 27 November 2015 and then later passed by the National Council of Provinces on 1 December 2015.
The TLAB 2015 has been proclaimed in the Government Gazette on 8 January 2016 and is now the Taxation Laws Amendment Act of 2015 (“TLAA”).
Various SAM Task Groups have been working hard on the recalibration of the non-life parameters within the standard formula. This includes the non-life premium and reserve risk and the non-life catastrophe risk sub-modules. The recalibrated standard formula forms part of the second Quantitative Impact Study considering the impact of the…