EXPATRIATE TAX TEXTBOOK

A SOUTH AFRICAN FIRST ADDRESSING THE COMPLEXITIES OF EXPATRIATE TAXES FROM A SOUTH AFRICAN PERSPECTIVE

FRESH OF THE PRESS | LEXISNEXIS

“A MOST WELCOME ADDITION TO OUR BODY OF TAX LITERATURE AND WILL DOUBTLESS BE ESSENTIAL READING FOR ANYONE ADVISING HIS OR HER CLIENT WITH REGARD TO THE TAX CONSEQUENCES OF MIGRATION.”

JUDGE DENNIS M DAVIS

Ph.D. & Hon. Professor of Law
Chairman Davis Tax Committee
Judge President, Competition Appeal Court

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FIRST OF ITS KIND

Effective from 1 March 2020, the new legislative amendment states that South African tax residents abroad will be required to pay tax to South Africa of up to 45% of their foreign employment income, where it exceeds the R1m threshold.

Potentially affected tax residents are facing a plethora of misguided and inaccurate information when it comes to the correct application of the law. However, with the effective date drawing closer, it is crucial that South African expatriates as well as their employers come to grips with the looming “expat tax” and how it will affect them, in order to prevent potentially dire tax consequences, come March 2020.

This is where the controversy starts: How does one impose proper planning to attenuate the impact of #ExpatTax2020? The newly released title, Expatriate Tax: South African Citizens Working Abroad and Foreigners in South Africa, tackles common misconceptions and unpacks the resultant tax consequences of individuals or international employees with interests in multiple jurisdictions.

The first of its kind in South Africa, the title addresses the complexities of expatriate taxes from a South African perspective in a manner that speaks to both the tax specialist and the concerned taxpayer. Expatriate Tax provides a comprehensive, technical and practical guide to South African tax and deals with aspects of international mobility, including work visa strategies, citizenship, retirement funding, international remuneration, international share schemes, and exchange control considerations. A must have for international taxpayers, expatriates, specialist tax advisors, tax managers, financial planners, tax lecturers and scholars of tax, human resource professionals, attorneys, chartered accountants and many others.

The publication has been described by Judge DM Davis, one of the foremost experts on tax in South Africa, as “a carefully considered book which not only deals with all the various tax implications of immigration/emigration but even has space for a useful chapter on work permits.”

FRESH OF THE PRESS | LEXISNEXIS

FOREWORD OF JUDGE DAVIS

The authors correctly observed that – “it is trite that the onus of proof is on the taxpayer and our courts will consider objective factors in determining tax residency. Where a taxpayer leaves South Africa with permanent intention, the financial emigration process covers both the SARB and SARS legal formalities.”

Judge DM Davis

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MULTIDISCIPLINARY TEAM

Tax Consulting South Africa had humble beginnings back in August 2005 when it was founded by Jerry Botha and Maritza Botha (née Prinsloo). The firm has now developed into the largest fully independent specialist tax practice in South Africa with over 80 professionals, serving clients across the world from offices in Johannesburg and George.

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The textbook provides a comprehensive, technical and practical guide to South African tax and deals with aspects of international mobility, including work visa strategies, citizenship, retirement funding, international remuneration, international share schemes, and exchange control considerations.

TABLE OF CONTENTS

TAX RESIDENCY

The determination of a person’s tax residency is generally the first point of departure in understanding their tax liability under the Income Tax Act, not only from a South African domestic law perspective, but also with reference to the Double Tax Agreements into which South Africa has entered. This is a critical point of departure as tax residents are, as a general rule, subject to tax on their worldwide income in their tax jurisdiction.

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EXPATRIATE TAX: SOUTH AFRICAN CITIZENS WORKING ABROAD AND FOREIGNERS IN SOUTH AFRICA

Available from 21 October 2019 in print and eBook format for R747.50 including VAT and excluding delivery. To purchase, visit the LexisNexis online bookstore.

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UPCOMING EVENTS

EVENT | BRITISH CHAMBER LEXISNEXIS – EXPATRIATE TAX BOOK LAUNCH

Xpatweb is sponsoring the British Chamber in South Africa’s October/November Business Briefing at the Inanda Club in Sandton on Wednesday, 30 October 2019 and at the Brasserie at the Stack in Cape Town on Thursday, 7 November, 2019. The event will include a presentation from Jerry Botha, Managing Partner of Tax Consulting South Africa, where he will be tackling the expatriate tax law changes as well as its implications on employers and expatriates.

NEWS | EXPATRIATE TAX LEXISNEXIS PUBLISHES DEFINITIVE GUIDE

With the effective date drawing closer, South African expatriates and their employers have little time to come to grips with the looming “expat tax” and how it will affect them when it comes into effect on 1 March 2020. Those who fail to understand this tax amendment that will bring considerable change to the South African expatriate landscape may potentially face dire tax consequences.

NEWS | THE COUNTDOWN BEGINS – EXPATS BE PREPARED

There are extremely good reasons for South African expatriates and their employers to be deeply confused and uncertain on “the expat tax”. There are simply too many differentiating views in the market, often punted from a conflicted business perspective. What aggravates this the vast number of professionals, and even expatriates themselves, who believe that tax law can be explained by a simple post on social media.