WHAT TO LOOK OUT FOR IN THE 2ND EDITION
Since the publication of the first edition in 2019, there have been significant changes that specifically impact on expatriates. These include changes to the taxation of income earned by a South African taxpayer from employment outside of South Africa; and the new process for those who wish to withdraw retirement funds when they cease their South African tax residency. There are also a number of important new legislative amendments and tax cases that have been included. This publication is of immense benefit to individuals affected by these taxes, their employers, as well as those who advise them. There is no other dedicated work on this subject.
DM DAVIS – Emeritus Judge President, Competition Appeal Court had this to say about the new edition:
“In summary, the second edition of this carefully considered book (which not only deals with all the various tax implications of immigration/emigration but the taxation of residents working offshore) remains an invaluable guide to an increasingly complex set of tax challenges. Given these changes, it is an even more significant addition to our body of tax literature and will remain essential reading for anyone advising his or her client with regard to the tax consequences of migration and non-resident accruals.”
GET TO GRIPS WITH EXPATRIATE TAX
Expatriate Tax includes practical planning points that go beyond just tax advice, for example it covers what to do with retirement annuities, how to manage bank accounts, payroll aspects etc. It provides technical details and practical planning points to guide Tax Advisers and Financial Planners to assist those affected by this tax to structure risk avoidance strategies, and to determine their expatriate income tax and liabilities and their filing obligations. It also helps the Payroll Departments of multinational companies and companies employing foreign nationals in South Africa to navigate the complexities of remuneration methodologies, tax policies and other aspects that will ultimately determine the tax liability of their foreign employees.
The second edition of Expatriate Tax includes significant changes namely:
- There has been a major change to the taxation of remuneration earned by South African taxpayers from employment outside of South Africa. This controversial amendment has raised concerns regarding double taxation, and this is analysed in the new edition.
- There is a discussion around the change regarding the phasing out of financial emigration, and around the new process for those who wish to withdraw retirement interests when they cease South African tax residency.
Other changes covered by the second edition include:
- There have been around 100 new tax cases since the 1st edition, and all the important ones have been included.
- There is a new provision that deals with allowances for day trips in South Africa. This is discussed and clarified regarding how it interacts with existing provisions.
- The chapter on pensions, lump sum payments and annuities has been updated to account for retirement reform which took effect on 1 March 2021. The proposed amendment to tax retirements interests upon ceasing residency is also discussed.
- The Tax Administration chapter has been updated to include discussions on amendments to criminal provisions for minor tax offences, which is important for all taxpayers including employers. Also added, are general discussions on how to deal with SARS disputes, refunds and the Voluntary Disclosure Programme (VDP).
- Generally, the updates also accounts for new SARS interpretation notes, guides, and public notices.
WHO CAN BENEFIT FROM LEXISNEXIS’ EXPATRIATE TAX?
ORDER YOUR SECOND EDITION NOW
EXPATRIATE TAX: SOUTH AFRICAN CITIZENS WORKING ABROAD AND FOREIGNERS IN SOUTH AFRICA
Available from November 2021 in print and eBook format for R805 including VAT and excluding delivery. To purchase, visit the LexisNexis online bookstore.