South Africa: South African Revenue Service opened consultation on draft Revised Common Reporting Standard (CRS) Regulations

On 15 September 2025, the South African Revenue Service (SARS) opened a public consultation, until 3 October 2025, on the draft Revised Common Reporting Standard (CRS) Regulations. The draft regulations are issued under Section 257 of the Tax Administration Act, 2011 (Act No. 28 of 2011) and specify changes to the Organisation for Economic Co-operation and Development (OECD) Standard for Automatic Exchange of Financial Account Information in Tax Matters, encompassing the Common Reporting Standard (CRS) as amended in 2023. The revisions extend scope to electronic money products and central bank digital currencies, bring indirect crypto-asset holdings into coverage, enhance due diligence and reporting obligations, and integrate revised commentaries and disclosure rules. The regulations repeal previous CRS regulations published in 2016, 2020, and 2023 and are scheduled to enter into force on 1 March 2026.