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.
SARS has expanded its Global Minimum Tax administration to cover information exchange, GMT03 declarations, payment processing, assessments and penalties. South African entities within affected multinational groups should confirm their local responsibilities and internal 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.
South Africa’s audit regulator has highlighted audit quality, technology and sustainability assurance as priorities, giving finance teams useful signals for stronger reporting controls.
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.
A simple rolling cash-flow forecast can help South African SMEs identify shortfalls early, reserve money for tax obligations and reduce avoidable financing costs.
SARS has introduced several changes to the 2026 trust income-tax return process. Trustees and tax representatives should review their records now, rather than waiting until the 22 January 2027 filing deadline.
A practical insight for South African businesses on protecting SARS eFiling access, verifying suspicious messages and keeping security contact details current.
SARS’s updated 2026 guidance means qualifying micro-businesses with annual turnover of up to R2.3 million should reassess whether Turnover Tax remains suitable for their structure, records and growth plans.
SAICA has asked National Treasury to clarify how provisional taxpayer status is determined and to provide relief where obligations only become clear after year-end. The proposal is not law, but it highlights practical cash-flow and compliance risks for businesses with irregular income.