LATEST NEWS

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South African Reserve Bank Leaves Authorised Dealers High and Dry

28/03/2022

Effective 1 March 2021, the South African Reserve Bank (SARB) removed themselves from the process of Financial Emigration. The move was gladly welcomed by Authorised Dealers (banks), as this took away the burdensome process banks had to follow guided by Exchange Control Rulings. Lovemore Ndlovu SARS and Exchange Control Specialist This eliminated the completion of...

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Rough Seas Ahead For Taxpayers Working On The Ships

14/03/2022

In search for opportunities abroad, many South Africans have taken to the seas. It might not be the same as working in a new country, but it offers a change of scenery while earning a foreign income. Labert Roberts Expatriate Tax Team Manager Working on a rig, a yacht or a cruise ship is not...

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Why Emigrating To The Netherlands Is Attractive To South Africans

14/03/2022

With various countries closing their borders since the inception of the COVID-19 pandemic, the Netherlands has emerged as one of the new frontrunners as a destination for emigrating South African to further their careers. Not only is the Netherlands attractive in terms of their work / life balance, but the Dutch government offers enticing tax...

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#Budget2022 | South African Expats Remain Top Priority For SARS

04/03/2022

The Budget Review 2022 was far from a “good news” budget for South Africans working abroad (“expats”). For the 5 th consecutive year, there has been changes proposed that clearly indicate that SARS is still targeting expats and view them as low-hanging fruit to boost revenue collection. The three main points directly impacting expats are...

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10 Key Highlights from the 2022 Budget Speech

25/02/2022

The Minister of Finance, Enoch Godongwana, delivered his maiden Budget Speech this afternoon. Discussed below are 10 key highlights from the 2022 Budget Review. 1. Tax rates have not been increased – Government refrained from increasing personal income tax rates. The Budget Review noted that increasing the top tax rates yields marginal returns. Therefore, rather...

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Tax Non-Residency And Property In South Africa

17/02/2022

Tax Non-Residents can acquire and sell South African immovable property in South Africa as there are currently no restrictions prohibiting them from doing so. The only restriction is that illegal aliens may not own immovable property in South Africa. Lovemore Ndlovu SARS and Exchange Control Specialist Martin Bezuidenhout Expatriate Tax Attorney The various implications of...

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You Are No Longer Residing In South Africa, But Did You Let SARS Know?

08/02/2022

South Africans working abroad seldom follow the correct procedures when it comes to matters pertaining to tax. Most of the concerns originate from the uncertainties surrounding the ceasing of their tax residency, with many not even sure what the term really means. With the South African Revenue Service (SARS) on high alert for non-compliant expats,...

Business team analyzes digital tax data on a laptop with overlaid charts and financial figures, for a tax diagnostic review.

What Is A Tax Diagnostic?

31/01/2022

Given the nature of finances, particularly the tax component of finances, it is fair to say that it is a complex and ever-changing part of life. No matter how up to date you think are, once you start relooking your tax obligations, you will probably find that things are never quite as rosy as they...

Woman's hands gently hold a small white paper house, symbolizing home, property, or tax residency.

3 Questions SA Expats Must Ask About Tax Residency

28/01/2022

Access to current information has become the saving grace for expatriates. However, with the advent of social media platforms, came an accompanying surge of opportunistic advisors who unknowingly, and sometimes knowingly, mislead vulnerable expatriates in their quest for clarity, and in so doing, potentially harm their relationship with the South African Revenue Service (“SARS”). Thomas...

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SARS Eager To Employ Inexperienced Youth To Assist Confused Taxpayers

27/01/2022

The South African Revenue Service (“SARS”) recently expressed its intentions to dive into its recruitment drive with renewed vigour. First on the block, is the employment of 250 young South Africans. This presents a grave concern for expats working, or planning to work, abroad. Thomas Lobban Legal Manager, Cross-Border Taxation Victoria Lancefield General Manager Financial...

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2021 Tax Proposals Signed Into Law – 5 Key Changes

26/01/2022

The President has given effect to the 2021 tax proposals by signing three tax Acts into law. On 14 January 2022, the President gave his assent to the Rates and Monetary Amounts and Amendment of Revenue Laws Act No. 19 of 2021 (“Rates Act”), the Taxation Laws Amendment Act No. 20 of 2021 (“TLAA”) and...

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Withdrawal Of Exit Tax Confirmed As President Signs Tax Bills Into Law

24/01/2022

The President has given effect to the 2021 tax proposals by signing the relevant tax Acts into law. With the promulgation of the Taxation Laws Amendment Act No. 20 of 2021 (“TLAA”), Government’s promise to scrap the exit tax on retirement interests has been confirmed, at least for now. The 2021 Draft Tax Bills were...

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LATEST NEWS

South African Reserve Bank Leaves Authorised Dealers High and Dry

Rough Seas Ahead For Taxpayers Working On The Ships

Why Emigrating To The Netherlands Is Attractive To South Africans

#Budget2022 | South African Expats Remain Top Priority For SARS

10 Key Highlights from the 2022 Budget Speech

Tax Non-Residency And Property In South Africa

You Are No Longer Residing In South Africa, But Did You Let SARS Know?

What Is A Tax Diagnostic?

3 Questions SA Expats Must Ask About Tax Residency

SARS Eager To Employ Inexperienced Youth To Assist Confused Taxpayers

2021 Tax Proposals Signed Into Law – 5 Key Changes

Withdrawal Of Exit Tax Confirmed As President Signs Tax Bills Into Law

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