Draft Summary Financial Statements Published for Comment

Department of Trade and Industry

A raft of notices on financial reporting was published in Government Gazette 41338 for comment.

The notices were drawn up in terms of the Companies Act.

•    Notice 1444- Financial reporting pronouncement 5 - draft summary financial statements.
•    Notice 1445- Financial reporting pronouncement 4 – limit on defined benefit asset.
•    Notice 1446- Financial reporting pronouncement 1- tax rates and tax laws for small and medium enterprises.
•    Notice 1447 - Financial reporting pronouncement 2 – accounting for black economic empowerment transactions.
•    Notice 1448 - Financial reporting pronouncement 3 - accounting for black economic empowerment transactions for SMMEs.

Comment is invited within 30 days of date of publication.

Meanwhile, the trade and industry department has, in Gazette 41321, announced the initiation of the sunset review of the anti-dumping duty on glass frit imported from Brazil.

Responses were invited within 30 days of the date of publication.

In Notices 1412 and 1413, new fees for the National Regulator for Compulsory Specifications were published.

In Notice 1414, the department published the memorandum of understanding between the Broad-Based Black Economic Empowerment Commission and the Companies and Intellectual Property Commission.

Sabinet Cape Town Office