- Tax Statistics and Revenue Performance
SARS and National Treasury have released the 18th annual Tax Statistics bulletin, showing strong revenue growth. For the 2024/25 fiscal year, SARS collected R2.3 trillion in gross tax revenue, up 6.9% from the previous year, and secured R304 billion in compliance revenue, marking a 16.7% increase year-on-year. Enhanced compliance strategies and the Two-Pot retirement withdrawals contributed significantly to this growth.
- Compliance Crackdown on Trusts
SARS has issued a draft notice under Section 210(2) proposing fixed administrative penalties for trusts that fail to submit tax returns. Trustees will face penalties if returns are not filed within 21 business days after a final demand. This signals a shift from warnings to active enforcement, with fiduciary accountability and reputational risks highlighted for non-compliance.
- Crypto Tax Enforcement
SARS is intensifying its focus on crypto traders, adopting the OECD’s Crypto-Asset Reporting Framework (CARF) and updated Common Reporting Standard (CRS). From March 2026, crypto service providers must comply with strict disclosure and due diligence requirements. Non-compliance could lead to penalties, asset freezes, and even criminal charges.
- Large Business Forum Launch
SARS has launched a Large Business Forum to strengthen ties with major taxpayers, promote voluntary compliance, and address systemic risks like aggressive tax planning. This initiative reflects SARS’s strategy to enhance trust and collaboration with corporate South Africa.
