The South African Reserve Bank’s Monetary Policy Committee (MPC) opted to keep the repo rate unchanged at 7% following its September meeting, marking the first pause since July. The prime lending rate remains at 10.5%. The decision was a close call, with four members voting to hold rates and two in favour of a 25...
The South African Revenue Service (SARS) has issued a reminder to employers that the 2025 Employer Interim Reconciliation (EMP501) period runs from 22 September to 31 October 2025. During this time, all employers must reconcile their PAYE, UIF, and SDL declarations for the first half of the tax year (1 March to 31 August 2025)....
The South African Reserve Bank’s Monetary Policy Committee (MPC) has announced a reduction in the Repo Rate by 25 basis points, effective 31 July 2025. This marks the third rate cut in 2025. The Repo Rate, which serves as the benchmark interest rate at which the Reserve Bank lends to commercial banks, will now be...
SARS Announces Upcoming Digital Platform Upgrades The South African Revenue Service (SARS) has issued a notice to taxpayers about scheduled upgrades to its digital platforms. As part of its Vision 2024 and broader goal to modernise systems for streamlined, digital-first services, SARS is continually working to improve the reliability, security, and availability of its technology...
The proposed increase in Value Added Tax (VAT), originally set to take effect next month, has been officially withdrawn. In a statement released shortly after midnight on Thursday, 24 April 2025, the Treasury confirmed that the VAT rate will remain at 15%, instead of rising to 15.5% as previously planned for 1 May 2025. The...
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