The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
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Tax & SARS
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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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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Businesses that submit third-party data to SARS have until 31 October 2026 to report information for the period ended 31 August. Accurate data matters because SARS uses it to pre-populate and assess tax returns.
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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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A simple rolling cash-flow forecast can help South African SMEs identify shortfalls early, reserve money for tax obligations and reduce avoidable financing costs.
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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 is consulting on a proposed digital VAT model involving e-invoicing, secure data exchange and e-reporting. No mandatory implementation date has been confirmed, but South African VAT vendors should begin assessing their systems before the consultation closes on 16 October 2026.
Read articleCompliance
CIPC has introduced geolocation functionality for company and close corporation address changes. SMEs should review their registered physical address now to avoid inaccurate records, rejected amendments and unnecessary administrative costs.
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