Leaving South Africa: Know the difference between Financial Emigration and Physical Emigration

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With almost 1 million South Africans who have moved abroad to start a new life overseas in the last two decades, it is clear emigration is top of mind for many. According to the latest available data, more than 120,000 South Africans left between 2015 and 2020 to relocate to a new country, but leaving…

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All must be in order with the Tax Man to ensure you can smoothly transfer funds overseas

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An unsuspecting taxpayer recently faced a dilemma when he had to do international fund transfers, but found SARS had cancelled his Tax Compliance Status (TCS) PIN approval, a critical component for taxpayers who need to transfer funds internationally or engage in other cross-border transactions. Lovemore Ndlovu Head of SARB Engagement and Expatriate Compliance Without a…

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