The South African Revenue Service (SARS) has published an updated guide for completing the Income Tax Return for Companies (ITR14), effective from 23 April 2025. The latest version includes expanded guidance on the reporting of beneficial ownership, aiming to improve transparency and accuracy in corporate tax declarations.
Corporate Income Tax (CIT) is collected through the ITR14 return. This guide is intended to assist companies in meeting their tax obligations by ensuring the ITR14 return is completed honestly and in full.
All companies that are tax residents in South Africa—either incorporated in the country or effectively managed from within—must declare and pay income tax on their worldwide earnings. Non-resident companies operating through a branch or with a permanent establishment in South Africa are subject to income tax on locally sourced income.
As part of its obligations under the Financial Action Task Force (FATF), the country aims to maintain accessible, reliable, and up-to-date information on the ownership and control structures of legal entities. To support this objective, the South African Revenue Service (SARS) now requires companies to submit Beneficial Interest and Beneficial Ownership registers when filing their Income Tax Return for Companies (ITR14), starting with the 2022 assessment year.
