The latest South African accounting, tax, payroll and business finance news, with practical insights for your business.
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Accounting & Reporting
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 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’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 announced amendments to the rules governing accredited customs clients, with retrospective effect from 1 September 2025. Importers should monitor the final Government Gazette notice and review supporting records, authorisations and customs-control procedures.
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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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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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