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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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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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.
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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.
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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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Companies with a June financial year-end may have until 31 December 2026 to submit their ITR14 returns. Starting the tax pack early can help finance teams resolve missing records, reconcile balances and reduce last-minute filing risk.
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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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A recent IFRS Interpretations Committee update puts residual-value estimates under the spotlight. South African finance teams using IAS 16 should review their asset assumptions before year-end.
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SARS has updated its Guide for Provisional Tax to explain how it may challenge unsupported estimates. Businesses should ensure their provisional tax calculations can be justified and that supporting records can be supplied within 10 business days.
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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.
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CIPC published Publication No. 2026-1781 on 21 October 2026, relating to the final deregistration of companies and close corporations for annual-return non-compliance. Businesses should verify their CIPC status and address any outstanding filings promptly.
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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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