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As someone servicing South Africa’s agricultural sector, I’ve witnessed firsthand the persistent and often frustrating struggle that farmers face – specifically when trying to access financial capital.
The publication of the third edition of the IFRS for SMEs, effective for annual periods beginning on or after 1 January 2027, introduces a fundamental shift in revenue recognition for small and medium-sized entities. Moving away from the traditional risks-and-rewards model, the revised Standard adopts a structured, contract-based approach aligned to IFRS 15.
Bodies Corporate are established under the Sectional Title Schemes Management Act No. 8 of 2011 to manage privately owned sections and common property within section title schemes, while Share Block Companies are established in terms of the Share Blocks Control Act No. 59 of 1980 which regulates its existence and operations.
On 27 March 2026, the South African Revenue Service (“SARS”) published and promulgated the notice for the imposition of fixed amount penalties for Trusts, where a Trust fails to file its tax return.
Part of South Africa’s implementation of Pillar Two Model Rules (also known as Global Anti-Base Erosion (“GloBE”) or GloBE Rules), the South African Revenue Services (“SARS”) will launch the registration and notification functionality for Global Minimum Tax (“GMT”) via its eFiling platform on 16 March 2026.
SARS has launched a modernised Diesel Refund System to simplify claims, strengthen compliance, and reduce disputes. Diesel refunds will become a stand-alone Customs & Excise process, not a VAT offset.
