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.
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.
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.
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.
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.
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.
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.