The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
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Accounting & Reporting
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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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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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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Non-provisional taxpayers who still need to submit their 2026 income tax returns have until 23 October 2026. Businesses should help employees and owner-managers confirm their personal tax obligations, supporting documents and SARS profile details before the deadline.
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SARS has published e@syFile™ Employer release notes for version 8.0.2_418. Employers should confirm that their payroll software is updated and complete their EMP501 reconciliation before 31 October 2026.
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SARS has introduced enhancements to South Africa’s automatic exchange of information reporting framework. Financial institutions and affected service providers should review their data, due diligence and reporting processes before the next submission cycle.
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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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SARS has introduced several changes to the 2026 trust income-tax return process. Trustees and tax representatives should review their records now, rather than waiting until the 22 January 2027 filing deadline.
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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.
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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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