The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
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Tax and SARS
SARS has reminded small businesses that using a tax practitioner does not transfer responsibility for the accuracy of submissions. SMEs should strengthen their practitioner checks and approval controls.
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A Bill introduced in Parliament on 21 October 2026 proposes raising South Africa’s compulsory VAT registration threshold from R1 million to R2.3 million. SMEs should model the possible impact, but must not treat the proposal as enacted law yet.
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SARS says qualifying micro-businesses can access guided Turnover Tax registration through selected self-service kiosks, giving smaller businesses another route to formalise their tax affairs.
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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.
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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.
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SARS has revised its Authorised Economic Operator accreditation policy, including transitional arrangements and an extended transactional period. Importers should review their customs records, authorisations and internal controls.
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SARS now allows taxpayers, registered representatives and tax practitioners to request the unmerging of incorrectly combined entity records directly on eFiling. Businesses should review their profiles before submitting tax returns or making payments.
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CIPC will close to the public from 10:00 on 24 December 2026 until 4 January 2027. Businesses should plan company filings, document lodgements and compliance work before the year-end cut-off.
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A new SAICA VAT registration FAQ highlights the need for SMEs to reassess turnover, registration status and supporting records under South Africa’s 2026 VAT thresholds.
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SARS has issued new guidance explaining how social media influencers and content creators should treat cash, barter benefits, platform income, provisional tax, VAT and business records.
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SARS has confirmed an important 2026 filing-season change to the tax treatment of certain assessed losses. Sole traders and individuals with side-business income should review whether the revised Section 20A threshold affects their provisional tax estimates and record-keeping.
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The CIPC’s upgraded Beneficial Ownership Disclosure Module gives law-enforcement agencies faster access to company ownership information. South African businesses should use the development as a prompt to review the accuracy of their beneficial ownership records, securities registers and supporting documents.
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