Entries by fm-admin

Alarm Over Growing Brain Drain From SA

As emigration by skilled South Africans rises, experts in the auditing and insurance sectors have warned this will weaken the country’s skills base and reduce the pool of wealthy individuals, whose spending on goods and services support many businesses.

Non-Resident Tax Status Reversed? Read This Before Reapplying To SARS

SARS introduced its Tax Non-Resident Confirmation letter in 2021, and it now appears that emigrated taxpayers, whose residency status was previously disclosed to SARS as non-resident, are now finding their status has been reset to ‘resident’. This may possibly have been due to a bug, or one arm not speaking to the other, when SARS […]

Expats Tax Residency Reset: Is SARS Constantly Shifting Goalposts?

The South African Revenue Service’s (“SARS”) focus on South Africans abroad was first revealed in the 2017 Budget Speech. Their reasons were only revealed in the pursuant Parliamentary debate, where in the Q&A session it was shared that National Treasury and SARS had been keeping a close eye on expatriate tax compliance.

Wealth Tax – Is The Rumour Being Realised?

With discussions on imposing a wealth tax being rife in preceding years, policy makers are turning to the South African Revenue Service (“SARS”) to look into the feasibility of this new proposed tax, to bridge the “widest wealth gap in the world”.

Valuable Benefits Of An Emigration TCS PIN And SARS Non-Resident Tax Status Confirmation Letter

Of late, digital news platforms have been awash with volumes of contradicting information regarding the Emigration Tax Compliance Status (TCS) PIN and SARS Non-Resident Tax Status Confirmation Letter. For the benefit of the taxpayers, more especially expatriates, we see it necessary to clarify the different uses and benefits of these two very important documents in […]