A simple rolling cash-flow forecast can help South African SMEs identify shortfalls early, reserve money for tax obligations and reduce avoidable financing costs.
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.
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.
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.
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.
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.
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.