SARS has introduced enhancements to South Africa’s automatic exchange of information reporting framework. Financial institutions and affected service providers should review their data, due diligence and reporting processes before the next submission cycle.
The IFRS Foundation is reviewing feedback on a proposed consolidation exception for certain intermediate parent companies. South African SMEs should monitor the project, but no accounting policy change is required yet.
South Africa’s audit regulator has highlighted audit quality, technology and sustainability assurance as priorities, giving finance teams useful signals for stronger reporting controls.
The IASB is preparing proposed IFRS 18 amendments on how certain government-imposed charges are presented and disclosed. South African finance teams should monitor the proposal and assess whether their reporting systems can support more detailed tax analysis.
A new IFRS Foundation update discusses tentative agenda decisions involving IFRS 18, IAS 16 and IFRS 9. South African reporting teams should monitor the outcomes, but should not treat them as new accounting requirements yet.
SARS has published requirements for companies seeking to qualify as a REIT, including asset, rental income, leverage, distribution and governance tests. Property groups should assess their financial reporting and tax controls before the rules apply to a new year of assessment.
Businesses that submit third-party data to SARS have until 31 October 2026 to report information for the period ended 31 August. Accurate data matters because SARS uses it to pre-populate and assess tax returns.
SAICA has called for clearer tax treatment of obsolete stock. The proposal is not law, but it highlights why businesses should keep strong inventory records and evidence for write-downs.
A disciplined month-end close helps South African SMEs make better tax estimates, spot missing records and avoid preventable compliance issues. Here are practical checks finance teams can build into their routine.
SARS is seeking stakeholder input on a proposed digital VAT model. VAT vendors should review the consultation paper and assess how e-invoicing, e-reporting and system integration could affect their processes.