There may be a strange game of chess being played with taxpayers who are trying to cease their South African tax residency, with the result of keeping them “trapped” as tax residents for no legitimate reason.
In the midst of growing international restrictions on foreign property investors, South Africa remains a welcoming haven to these buyers.
In the lead up to South Africa’s budget speech in February 2023, the South African Revenue Service (SARS) has announced the addition of 52 new vacancies to its staff. The positions listed all hint to new changes which may affect expats living and working outside of South Africa. Whilst this is a seemingly positive development on the surface, […]
With the ongoing global skills shortage and South Africans being highly sort after, many individuals are choosing to Financially Emigrate with the aim of starting a life abroad. However, this decision should not be taken lightly and requires a well thought-out road map and exit strategy.
The National Treasury and SARS have introduced many changes to the treatment of South African retirement vehicles which have often resulted in adverse tax implications and penalties for early withdrawals, or strict rules and regulations applied. The aim of this was to incentivise South Africans to be more forward thinking and to encourage the provisioning […]
The recent announcement that the deadline for provisional taxpayers has been brought forward to 23 January 2023 is causing confusion. “Some provisional taxpayers have mistaken this to mean that their second provisional tax submission is due sooner this year, but this is incorrect,” says Nicolas Botha, Tax Team Compliance & Processing Manager at Tax Consulting […]
In a media statement dated 30 November 2022, the South African Revenue Service (“SARS”) stated that they are encouraging all taxpayers who may be in default on their tax affairs to approach SARS via the Voluntary Disclosure Programme (“VDP”). By coming forward willingly, said taxpayers will receive the help and advice from SARS to expedite […]
The number of South Africans earning income abroad has continuously been on the rise. The majority percentage of the South African Revenue Service’s (SARS) tax collections have also consistently been from personal income. These two factors combined, in the context of our residency-based tax system, has massively piqued the interest of our revenue service in […]
The common misconception amongst expatriates, however, is that getting on a plane and leaving South Africa will trigger the South African Revenue Service (“SARS”) to automatically regard them as non-resident taxpayers. This is certainly not the case, as the correct process must be followed to cease one’s South African tax residency status. If not, SARS […]
“SARS + AI” vs “Your South African Tax”04/09/2024 - 11:11
Tax Residence Certificates for SA Expats: SARS’ way or the highway03/22/2024 - 10:05
Unveiling the Surge: The Reason for the Recent Influx of South Africans to the Netherlands03/07/2024 - 09:24
Tax Planning for Repatriation: A Non-Resident’s Toolkit to Returning Home02/14/2024 - 08:46
A Letter to the Taxman: Breaking Tax Ties02/08/2024 - 12:57