PKF in South Africa

Michelle Hawkins, Senior Tax Specialist, PKF Octagon Regulation of Trusts Bill, 2026: Trusts Are About to Become Far More Regulated If you are a founder, trustee, beneficiary or considering forming a trust, you should take note of the proposed Regulation of Trusts Bill, 2026, which aims to repeal and replace the Trust Property Control Act, 57 of 1988 that has since been regulating South African trusts..

By Evan Pickworth, Business Day Read the article and listen to the podcast at Business Day Mandatory beneficial ownership reporting is a good example of heightened compliance standards: it is no longer simply a Companies Act technicality but part of the basic governance hygiene of running a South African business, big or small. At its simplest, a beneficial owner is the natural person who ultimately owns or exercises effective control over a company, whether directly or indirectly.

By Paul Gering, Partner, PKF Durban The American Revolution drew force from the clarion call, ‘No taxation without representation’. Britain emerged from the Seven Years’ War with substantial debt and sought to raise more revenue from its American colonies. Measures including the Stamp Act, the Townshend duties and the Tea Act affected paper and legal documents, glass, tea and other goods. The Boston Tea Party followed in 1773, helping to intensify the conflict that led to the American Revolution.

By Retief Smith, PKF South Africa Business rescue has become an increasingly familiar feature of South Africa's corporate landscape. Yet by the time a company enters formal proceedings, management and directors have often exhausted many of the options that could have preserved value, protected stakeholder relationships, and avoided the need to seek post-commencement finance (PCF).

By KC Rottok Chesaina - Chief IFRS Officer, Mueni Management Consulting Over the past few articles, we have walked through the five-step revenue recognition model introduced by the revised IFRS for SMEs Accounting Standard, effective for annual periods beginning on or after 1 January 2027, one step at a time: identifying a contract, unpacking its performance obligations, determining the transaction price, allocating that price, and recognising revenue as each obligation is satisfied.

By Simone Esch, Head of Tax, PKF Cape Town The South African Revenue Service (SARS) recently issued VAT Ruling VR 015 providing important clarity on the VAT treatment of purpose-built student accommodation supplied directly to students for an unbroken period exceeding 28 days. The ruling was issued in response to an application from a private company developing student housing for university students.

Having identified a contract, unpacked its performance obligations, determined the transaction price, and allocated that price to each obligation, the final step answers the most fundamental question in revenue accounting: when does revenue get recognised? Step 5 of the revised IFRS for SMEs framework, effective for annual periods beginning on or after 1 January 2027, requires entities to recognise revenue only when—or as—a performance obligation is satisfied.

Why Strategy Isn't the Problem - Execution Is By Rob Newsome, Director, PKF VGA South African boardrooms are not short on strategy. Across infrastructure, retail, financial services, mining, and manufacturing, organisations continue to invest heavily in growth plans, transformation initiatives, and ambitious strategic programmes. Yet a familiar pattern persists. Strategies are approved. Capital is allocated. Targets are announced. Then execution begins to falter. Projects stall. Costs escalate.

By Michelle Hawkins, Senior Tax Specialist, PKF Octagon The South African Revenue Service (SARS) continues to accelerate its modernisation and digitalisation agenda across all tax types. While these advancements aim to improve efficiency and transparency, they have simultaneously introduced heightened compliance risks for taxpayers. Strengthened validation controls, stricter eFiling requirements, and evolving legal interpretations are collectively reshaping the tax landscape.

By Michelle Hawkins, Senior Tax Specialist, PKF Octagon A groundbreaking judgment by the Supreme Court of Appeal (SCA) fundamentally transformed the landscape of tax dispute resolution in South Africa. In the landmark case of Commissioner for the South African Revenue Service v Poulter ZASCA 68, the court ruled that taxpayers may be represented in the Tax Court by duly authorised laypersons or non-legal practitioners.