Building Public Trust Through Tax Reporting 2026

South Africa's leading companies strengthen tax transparency as focus shifts to integration.

7 October 2026, Johannesburg - The next phase of tax transparency in South Africa will be defined not simply by how much organisations disclose, but by how effectively they connect tax with risk, sustainability and broader business strategy, according to Building Public Trust Through Tax Reporting, PwC South Africa's 11th annual review of tax transparency among the top 100 companies listed on the Johannesburg Stock Exchange (JSE).

This year’s publication goes beyond assessing tax transparency practices to explore how organisations can bring tax, risk and sustainability together into one coherent narrative. A key focus is the relationship between the Chief Risk Officer (CRO), Chief Sustainability Officer (CSO) and Tax Director, and the opportunity for these functions to collaborate more closely as stakeholder expectations evolve.

This need for greater integration is becoming more important as investors, regulators, tax authorities and other stakeholders increasingly review financial, tax, risk and sustainability disclosures collectively rather than in isolation. Advances in artificial intelligence and data analytics are accelerating this shift, making it easier to analyse and compare information across multiple sources and increasing expectations for reporting that is both transparent and connected.

The review points to emerging leading practices in tax transparency, although progress remains uneven across the JSE Top 100. The average transparency score stands at 28.25%, with 12 companies scoring above 60%, while 68 companies scored 30% or less, highlighting both the progress being made by leading reporters and the opportunity to strengthen transparency more broadly.

Connecting tax, risk and sustainability

The relationship between the CRO, CSO and Tax Director is one of the central themes of this year’s publication. While each function has distinct responsibilities, the report highlights the value of closer collaboration in helping organisations explain how tax decisions connect with risk, sustainability priorities and long-term business performance.

The study found that 39 companies identified tax as a key business risk and 47 published a tax strategy. These disclosures demonstrate progress, but relatively few organisations currently connect them directly to sustainability objectives, leaving an opportunity to create a more integrated picture for stakeholders.

AI is accelerating expectations for transparency

The report highlights how technology is strengthening the ability of stakeholders to assess corporate information across multiple sources. Tax authorities are increasingly using advanced analytics and artificial intelligence to identify compliance risks, while investors, analysts and other stakeholders can assess financial, sustainability, risk and tax disclosures together to develop a more complete view of an organisation.

This means consistency and connectivity across reporting are increasingly important. Organisations need to consider not only what each disclosure says on its own, but whether these disclosures collectively tell a clear and coherent story.

Where connected reporting comes to life

Pillar Two, Total Tax Contribution (TTC) and Country-by-Country Reporting (CbCR) provide practical examples of why tax reporting can no longer be viewed in isolation. Together, they illustrate how tax intersects with governance, risk, business operations, economic contribution and wider stakeholder expectations.

The review identified R5.4 billion in Pillar Two top-up tax disclosures among the JSE Top 100 companies. Pillar Two, the Organisation for Economic Co-operation and Development’s (OECD) global minimum corporate tax framework, represents a significant change to the international tax landscape and has implications that extend beyond the tax function.

While many organisations have begun reporting their Pillar Two positions, the review identifies an opportunity to provide greater context around what these disclosures mean for organisations’ global tax profiles, risk considerations and business operations.

"The first Pillar Two reporting cycle provides valuable insight into how organisations are responding to one of the most significant changes to the international tax landscape in decades. As reporting matures, the opportunity will be to connect these disclosures more clearly with the organisation’s broader risk, governance and business narrative," says Perry.

Demonstrating economic contribution

Total Tax Contribution provides another important part of this connected story by demonstrating how businesses contribute to the economy through taxes borne and collected. Among the 48 companies that disclosed TTC information, the total contribution amounted to R1,844 billion in 2025, with the largest contributions coming from the Consumer Markets sector and the Energy, Utilities and Resources sector.

 The report highlights TTC as an important way for organisations to demonstrate their wider economic contribution and connect tax reporting with their broader role in supporting public services, economic development and societal progress.

The review also found that eight companies published a full OECD BEPS Table 1 Country-by-Country Report. Together, TTC, CbCR and Pillar Two demonstrate the growing breadth of tax information available to stakeholders and reinforce the importance of explaining how these disclosures connect with the organisation’s wider business story.

The next phase of tax transparency

The report concludes that future progress in tax transparency will come not only from more disclosure, but from more connected disclosure. As the volume and accessibility of corporate information increase, organisations have an opportunity to move beyond separate conversations about tax, risk and sustainability towards integrated thinking and reporting.

"Tax, risk and sustainability teams each hold part of the organisation’s story. Bringing those perspectives together can give stakeholders a clearer understanding of how businesses manage risk, contribute to society and create long-term value. The future of tax transparency will not be defined by more disclosure alone, but by how effectively organisations connect that information into one coherent story,” concludes Perry.