Submit to Parliament draft amendment to income tax, customs and excise tax, and goods tax legislations related to the new mining tax regime in line with IMF TA recommendations.
At R2, new test date. At R3, not met. The Parliament passed amendments to the Income Tax Act and the Mines and Minerals Act in April 2014. The authorities indicate that upon a closer look at the legislative framework, these legislative amendments (along with a related Ministerial Order) implement the IMF TA recommendations on the mining tax regime, and that amendments to the customs and excise and goods tax legislations are not necessary. To reflect this, the authorities propose a re-phasing and rewording of this benchmark (see below). A Ministerial Order reducing the rates of export duty on gold will be issued by July 2014 to complete the implementation of Fund TA recommendations on the new mining tax