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National Treasury: 2025 Draft Tax Bills and Draft Regulations
- 29 August 2025
- Tax
- South African Accounting Academy
Summary:
National Treasury has issued a media statement announcing publication of the 2025 Draft Tax Bills and Draft Regulations, and together with SARS, they have invited comments on these documents.
Article:
These draft tax bills and draft regulations contain tax proposals made in the 2025 Budget on 12 March 2025 and updated on 21 May 2025.
The following documents have been published for comment:
- Draft Taxation Laws Amendment Bill 2025 (TLAB)
- Explanatory Memorandum on the Draft Taxation Laws Amendment Bill 2025
- Draft Tax Administration Laws Amendment Bill of 2025 (TALAB)
- Draft Memorandum on The Objects of TALAB 2025
- Draft (Revised) Regulations on Domestic Reverse Charge (DRC)
- Explanatory Memorandum - Domestic Reverse Charge Mechanism relating to valuable metal
- Draft Export Regulations (ER)
- Explanatory Memorandum - Export Regulation
Due date for comments = 12 September 2025
All of these draft tax bills, draft regulations and related memorandums can be downloaded at https://www.treasury.gov.za/public%20comments/Tax%20Acts,%20Regulations%20and%20EMs/
Click here to download the Media Statement:
Relevance to Auditors, Independent Reviewers & Accountants:
- The Income Tax Act is yet another piece of legislation that your clients must comply with, and which you must assess compliance with. If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
- As an auditor, independent reviewer, an accountant or tax practitioner, you need to be aware of the proposed changes to tax legislation that is brought about by the annual budget speech.
- As an employer and taxpayer, you also need to comply with the Income Tax Act in your workplace and be aware of the various Draft Amendment Bills and Regulations, so that you and your practice may apply the updated legislation.
Relevance to Your clients:
- An entity (company or close corporation) has a duty to comply with the Income Tax Act, and directors have to fulfil their duties accordingly, otherwise they could be held liable.
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It is important to be aware of the proposed changes to tax legislation that is brought about by the annual budget speech, and the various Draft Amendment Bills and Regulations so that your clients may apply the updated legislation.