NEWS | FINANCIAL EMIGRATION IS THE NEW WAY OUT
Financial emigration is on the rise – by 30% over the last two years, according to Claudia Apicella, head of Financial Emigration, a specialist advisory group targeting financial emigres.
Author Archive for: Financial Emigration
Entries by Financial Emigration
TAX FILING SEASON – HERE ARE SOME CHANGES FROM SARS
The South African Revenue Service (SARS) is acutely aware of the decline in tax moral and tax compliance, say Thamasanqa Msiza, senior tax consultant & Darren Britz, senior tax attorney at Tax Consulting SA. Many of the changes to the annual tax Filing Season this year is to lower the cost of compliance for taxpayers, […]
MASSIVE JUMP IN THE NUMBER OF SOUTH AFRICANS APPLYING TO FINANCIALLY EMIGRATE
The number of people enquiring and actually going through with the process of financial emigration has “skyrocketed”, says Jonty Leon, legal manager at Financial Emigration.
NEWS | TAX FILING SEASON: DON’T MISS OUT ON YOUR TAX RETURN
Taxpayers earning less than R500 000 per annum from one employer in a single tax year are not required by SARS to file their tax returns. However, tax consultants advise that taxpayers should still file their returns if there is a chance they would get a tax refund.
NEWS | FINANCIAL EMIGRATION – REQUIREMENTS AND MISCONCEPTIONS
There is a lot of misinformation circling in the South African expatriate community about the amended expatriate tax law taking effect on 1 March 2020 and the process of Financial Emigration. We often have clients approach us where they have been subjected to scaremongering or solicited by “one-man” bands promoting their own agenda.
NEWS | SOUTH AFRICAN EXPAT TAX: YOUR QUESTIONS ANSWERED BY THE EXPERTS
With South Africans who live or work abroad facing the imminent introduction of “expat tax”, there has been a lot of scaremongering and confusion. Recently the expert tax team at Tax Consulting South Africa kindly offered to answer SAPeople members’ questions. Here you will find a selection of the questions submitted and answers by Jerry Botha, Managing Partner […]
Brace For The Expatriate Tax Exemption
If there was any doubt amongst taxpayers, especially South Africans working abroad, National Treasury, on 6 March 2019, categorically confirmed that it is forging ahead with the implementation of the amended section 10(1)(o)(ii) (“the Expat Exemption”).
Budget Speech 2019 – OECD’s Common Reporting Standard – Nowhere To Hide
National Budget Speech – OECD’s Common Reporting Standard – Nowhere To Hide The Budget Speech is just one of the times where a tax attorney shows their worth. Instead of just reviewing the headlines, a tax attorney should be delving into the budget proposals, current policies and policy adjustments. The need for an in-depth review […]
National Treasury opens door for more discussions on expat tax
National Treasury has invited key stakeholders to a workshop early next month to address continued concerns around the amended foreign income tax exemption. The change is set to become effective on 1 March 2020.
Tax Residency and Financial Emigration: Everyone is an Expert
Financial Emigration Ceases Tax and Exchange Control Residency The process of “Financial Emigration” terminates your tax residency status with the South African Revenue Service (“SARS”) as well as your status as exchange control resident with the South African Reserve Bank (“SARB”). The SARS process includes a verification or “audit” procedure, as financial emigration is not […]
In the News
Do South African Expats Return Home for the Braais?29/05/2025 - 11:57
Project AmaBillions | Being abroad won’t save you from SARS’ collection efforts21/05/2025 - 15:49
Expats Among Millions of South Africans Tapping into Two Pot-Windfall10/05/2025 - 07:50
Important Tax Directive Updates from SARS will impact expats’ withdrawal of retirement interests12/04/2025 - 06:39
Don’t be misled: No waiting period for SA expats who want to cease tax residency25/03/2025 - 19:07