South Africa’s Standing Committee on Finance and Select Committee on Finance are scheduled to consider and adopt reports on the 2026 Revised Fiscal Framework and Revenue Proposals on 10 and 11 November 2026. The process follows the tabling of the Medium-Term Budget Policy Statement and revised fiscal framework on 21 October 2026, together with public hearings held on 28 October. Parliament’s 30 October media statement confirms that the committees are reviewing submissions and responses from National Treasury and SARS.

For business owners and finance teams, the important point is that parliamentary consideration does not automatically make a tax proposal law. Businesses should monitor the process, but should avoid changing tax calculations, pricing models or accounting policies until any relevant measure has been enacted and its effective date is clear.

What is happening now?

The committees are considering the revised fiscal framework and revenue proposals in line with the Money Bills Amendment Procedure and Related Matters Act. Their work includes reviewing evidence from National Treasury, SARS, the Parliamentary Budget Office, the Financial and Fiscal Commission and public submissions.

The next scheduled step is the adoption of committee reports on 10 and 11 November 2026. Further parliamentary consideration will be required before any legislative tax changes take effect. The process should therefore be treated as an important policy signal rather than a completed compliance change.

Who should pay attention?

  • SMEs preparing budgets: potential tax or revenue changes may affect future cash-flow assumptions, but should not be built into forecasts as confirmed amounts.
  • Finance teams closing the year: distinguish enacted legislation from proposals when assessing tax balances, deferred tax and financial statement disclosures.
  • Employers and payroll teams: do not change PAYE, UIF or SDL calculations unless SARS or legislation confirms a specific change.
  • Importers and businesses with complex transactions: review how any future revenue measures could affect pricing, customs costs or working capital once details are confirmed.

What businesses should check

First, identify which parts of the 2026 fiscal and revenue proposals could affect your business model. Keep a separate register for proposals, draft bills, enacted legislation and effective dates. This prevents draft policy announcements from being applied prematurely in accounting records or tax calculations.

Second, ask your accountant or tax practitioner to assess whether any proposed measure could affect provisional tax estimates, year-end tax provisions, budgeting or customer pricing. The assessment should clearly state whether the conclusion is based on current law or on a possible future change.

Third, preserve an evidence trail. Keep copies of the relevant Budget Review material, draft legislation, parliamentary updates and internal decisions. This will help explain why a forecast or tax treatment was, or was not, changed.

Practical next steps

SMEs should monitor the committee reports expected after the 10 and 11 November meetings, then wait for the relevant legislation, promulgation details and commencement dates before implementing changes. Until then, continue using current SARS requirements and existing accounting policies.

Businesses that need help translating tax developments into budgets, controls and reporting processes can explore Your Financial Partner’s accounting and advisory services.