The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
22 articles matching “record keeping” Clear search
Accounting & Reporting
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.
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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.
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SARS has extended the deadline for certain provisional taxpayers who received an automatic assessment to request a reduced or additional assessment. Businesses and sole proprietors should use the extra time to review their tax information, rather than delay action.
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A disciplined review of accounting estimates can help South African SMEs produce more reliable financial statements and explain changes clearly.
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South Africa’s 2026 draft tax bills are moving through parliamentary consideration. They are not law yet, but businesses should monitor the process and assess potential compliance implications.
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A practical insight for South African businesses on protecting SARS eFiling access, verifying suspicious messages and keeping security contact details current.
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South Africa’s audit regulator has highlighted audit quality, technology and sustainability assurance as priorities, giving finance teams useful signals for stronger reporting controls.
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A 2 October 2026 High Court judgment highlights why business restructures, asset transfers and historic tax debts require careful professional review.
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SARS’s Payment Advice Notice process gives businesses a practical way to reduce payment-allocation errors. A simple approval and reconciliation routine can help finance teams confirm that PAYE, VAT, income tax and other payments reach the correct SARS account.
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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.
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