Hi Joseph
The answer is yes, it covers all the statutory requirements. The original SA localization was based on the UK localization. I did many implementations in SA and the VAT and companies tax are all catered for.
Every Business Partner (Customer & Supplier) has a VAT number that can be assigned and the invoice layouts can include all the VAT references as well as Exclusive, VAT and Inclusive values as per the legal requirements.
In recent versions, the Extended Tax Reporting (Administration > System Initialization > Company Details > Accounting TAB) was added to the South African Localization. This was initially only available in the UK version.
As for documentation on this, not sure, but the best would be to contact SAP.
If you need any guidance with the above, please let us know.
Kind regards
Peter Juby