To be released from their local tax obligations in relation to foreign income, emigrating South Africans must be able to prove to SARS that they have permanently left the country. But how can they do so if they are moving to a country, like the UAE in general, where long-term residence (for immigration purposes) is…
The COVID pandemic has brought a lot of changes in terms of how employees render their services. The theme of employees working remotely has become more prevalent, and there has been a rise in South Africans working for foreign companies while still living in South Africa.
Most expatriates are not aware of their tax status with SARS. Whether you are only leaving now or have already left, it is important to know where you stand with SARS, to avoid non-compliancy. Simone Munsami Tax Diagnostic Specialist Alex Mahundla Tax Diagnostic Specialist If you are unsure of your tax status with SARS, we…
Tax Consulting South Africa, South Africa’s largest independent tax practice, returned this week from the Netherlands after hosting tax and immigration planning sessions with recently emigrated South Africans. One thing that became clear during the presentations, is that despite the soft-landing opportunities provided in the Netherlands and other locations, there has not been enough focus…
Tax Consulting South Africa and Xpatweb, South Africa’s largest tax and international mobility practice respectively, returned this week from the Netherlands after hosting tax and immigration planning sessions with recently emigrated South Africans. The sessions reaffirmed that the Netherlands has emerged as one of the new frontrunners as a destination for emigration of join professionals…
The finalisation of a deceased estate is in itself a time consuming and frustrating process for South Africans. Further complexity and exasperation is caused when one of the heirs is an expatriate. Victoria Lancefield General Manager, Financial Emigration & Tax Residency Martin Bezuidenhout Expatriate Tax Attorney When inheriting from an SA source and you are…
The obtaining of a SARS Non-Resident Confirmation Letter is a key part of the tax roadmap for many of our clients. This is where SARS formally confirms that you are non-resident for tax purposes. They run a system and check to make sure that they relinquish their world-wide taxing right, as this is not something…
There are many South Africans working abroad who have made the decision to return to their home country. For many, the pandemic was the roll of the dice that sealed their fates. For others, the idea of being far away from extended family was the drawing card that tugged at their heart strings. Regardless of…
As the South African Revenue Service (SARS) intensifies its focus on the tax compliance of high net-worth individuals (HNWI), a self-governing island nation located in the Irish Sea has steadily emerged as an appealing emigration destination for prospective South African expatriates. HNWI’s targeted A longstanding trade, economic and financial partner to South Africa, the uptick…
What Are The New Rules? Since the announcement by Treasury effective 1 March 2021 to the process of Financial Emigration and ceasing ones tax residency, the transfer of funds offshore for expatriates (emigrants as known under exchange control), has in some regards become more flexible, in terms of allowing you more than one authorised dealer,…
