Tax Laws Amendment Act, 2024
The Tax Laws Amendment Bill, 2024, was officially signed into law on December 11, 2024, with an effective date of December 27, 2024. This legislation introduces a broad range of reforms designed to enhance tax compliance, streamline tax administration, and address evolving economic needs. The amendments aim to modernize the tax system, introduce new taxes, clarify existing provisions, and provide relief to taxpayers. Below is a discussion of the key highlights of some of these changes.
