Draft Documents for Public Comment

Draft Notice

• Draft notice issued under sections 18A (2B) and (2C) – Prescribing the information that must be contained in a certificate as specified in these sections

Explanatory Note
The proposed draft Notice provides information required in a certificate as specified in terms of sections 18A(2B) and (2C) of the Income Tax Act

Draft Regulations and Draft Explanatory Memorandum

• Media statement – Publication of the Draft Amendments to the Regulations on the Domestic Reverse Charge Relating to Valuable Metal
• Draft Amendments to the Regulations – Domestic Reverse Charge Relating to Valuable Metal
• Draft Explanatory Memorandum – Draft Amendments to the Regulations on the Domestic Reverse Charge Relating to Valuable Metal

Explanatory Note
The National Treasury and the South African Revenue Service (SARS) today publish, for public comment, the draft amendments to the Regulations on the Domestic Reverse Charge relating to valuable metal, issued in terms of section 74(2) of the Value-Added Tax Act, 1991 (Act no. 89 of 1991) (the Draft DRC Regulations) as well as the Draft Explanatory Memorandum (the Draft EM). The purpose of these proposed amendments is to enhance the efficacy of the VAT legislation on valuable metal transactions by clarifying the definition of “residue” and the 1% gold content rule (the de minimis rule). 

Date published: 3 June 2026

National Treasury’s tax policy depository at [email protected]

and

SARS at [email protected]

Draft Bill

• 2026 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill

Explanatory Note
As per the media statement of 4 June 2026, the draft bill published on 25 February 2026, is now open for comment.

Date published: 25 February 2026, following the Budget Speech.

National Treasury’s tax policy depository at [email protected]

and

SARS at [email protected]

Draft Binding General Ruling

• Draft Binding General Ruling – Filing date of a return in case of a company’s change in financial year and year of assessment 

Explanatory Note
This binding general ruling provides clarity on the date for filing various returns when a company changes its financial year for purposes of the Companies Act and approval of a change in financial year and corresponding year of assessment is granted for income tax purposes.

Date published: 30 June 2026

[email protected]

Draft Guide

Draft Guide to the Taxation of Crypto Assets

Explanatory Note
This guide considers selected provisions of the Act that are particularly relevant to crypto assets. It does not cover all the sections applicable to crypto assets and persons dealing with crypto assets, which, while not specifically referring to crypto assets or persons dealing in them, are nevertheless applicable.

The income tax system in South Africa is residence-based. This means that South African residents are, but for certain exclusions, subject to income tax on their worldwide income. This includes income derived both within and outside South Africa including income and capital gains from crypto assets listed on foreign trade exchanges.

Non-residents are potentially liable for income tax if South Africa is the source of proceeds which are of a revenue nature, or if the disposed asset meets the requirements of paragraph 2(1)(b)(i).

This guide focuses on the position of a South African tax resident taxpayer. However, the same principles apply to non-residents if the source- or paragraph 2 requirements are met.

For a detailed consideration see Interpretation Note 4 “Resident: Definition in relation to a Natural Person – Physical Presence Test”. A person, other than a natural person, for example, a company or a trust, will be a resident if the person is incorporated, established, or formed in South Africa or has its place of effective management in South Africa but it does not include any person who is deemed to be a resident of another country for purposes of the application of a double tax agreement between South Africa and that other country. For a detailed consideration on the meaning of “place of effective management” see Interpretation Note 6 “Resident: Place of Effective Management (Companies)”.

[email protected]