The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
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Accounting & Reporting
The IASB has extended the comment period for proposed IFRS 9 and IFRS 7 amendments. South African finance teams using hedge accounting should review the proposals before the revised 30 November 2026 deadline.
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A practical accounting insight on aligning company and tax record-retention requirements before old financial documents are deleted.
Read articleTax administration and compliance
SARS completed scheduled digital-platform maintenance on 6 and 7 November 2026. SMEs should use the notice as a prompt to review filing continuity, payment evidence and internal tax-system controls.
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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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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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A recent SARS investigation into alleged VAT refund fraud is a timely reminder for South African businesses to strengthen VAT records, approval controls and supporting-document checks.
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SARS has updated the facility code list used in Box 30 of the Goods Declaration to include a new Durban container depot. Importers, customs agents and finance teams should check their master data, shipment records and reconciliation controls before using the new code.
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A recent High Court decision shows how SARS may seek to preserve and realise property linked to unpaid tax while legal proceedings continue. South African finance teams should treat tax-debt monitoring and asset records as core controls.
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CIPC’s 23 October 2026 statement on the Nova matter highlights the importance of reliable financial statements, governance records and timely Companies Act compliance for South African businesses.
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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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The SARB is inviting comment on a proposed Synthetic Financial Centre framework. Although it is not yet law, affected institutions should begin assessing the potential accounting, tax and control implications of managing qualifying offshore portfolios from South Africa.
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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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