Looking at global statistics and for those following international news, it appears South Africans can be grateful for not being hit as hard as other countries by Covid-19; yet.
Following SARS’ media statement on 5 May 2020, it is clear that revenue collection is under immense pressure with an expected collection shortfall of between 15% – 20%.
With the first provisional tax payment being due on 31 August 2020, there is some confusion regarding whether expatriates are deemed to be provisional taxpayers by the South African Revenue Service (SARS) or not.
On 5 May 2020, the Commissioner for SARS made a profound media statement, which gave a detailed account of projected revenue collection in light of the COVID-19 crisis, but also gave valuable insight of what we can expect from SARS in coming months.
Following the most recent presidential address, it is clear that South Africa’s borders are going to remain closed for non-essential travel, at least for the time being.
Government has published more than a dozen new directives around South Africa’s lockdown regulations since the official introduction of level 4 restrictions on Friday (1 May).
Here comes the rain again With 1 March 2020 being the sunrise of the expatriate tax, the first tax payment will become due 31 August 2020.
The amendment to the expat tax exemption that came into effect 1 March 2020 will have a tremendous impact on both employers and employees respectively.
Celebrating the launch of its regional office on the west coast of Mauritius, Temple Group conducted a workshop on the 2020 Tax Reforms in SA, emphasising the reforms announced in the recent budget speech, and the importance of choosing the correct processes for relocating oneself or a company outside of SA.
South Africa Bleeding Skills Not surprisingly, there has been an outflow of South Africans in recent years for various reasons, a top reason being the punitive “expat tax” regime promulgated in December 2017, and effective 1 March 2020.
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