LATEST NEWS

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Emigration Expo: Are You Coming Back?

03/11/2021

Tax Consulting SA and Xpatweb were exhibitors at the Durban leg of The Emigration Expo. While fielding questions, it was evident that many people are interested in working and living offshore, but they seem unsure where to start. All their questions and concerns can be compiled into three groups. 1. Job offers, visas and permits...

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Are Your Offshore Investment Structures Compliant With SARS?

29/10/2021

SARS Commissioner Edward Kieswetter introduced Natasha Singh as the first director of SARS’s new specialised segment targeting high net worth individuals. Singh's appointment is considered as strategically essential in terms of ensuring compliance with affluent individuals who have complex financial arrangements. Deshika Padayachy Expatriate Tax Specialist In order to remain compliant, high net worth taxpayers...

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Living The Zambian Dream – South Africa Hasn’t Forgotten About You

21/10/2021

Many South Africans work and live in Zambia because it is a favourable mining, construction, and agricultural African destination. Some of these South Africans have either temporarily or permanently made the move to Zambia without following the correct emigration procedures to mitigate their tax exposure in South Africa. The general misconception is that when a...

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Is The Proposed Tax On Retirement Interests An “Exit Tax”?

18/10/2021

The most contentious proposal introduced by the 2021 Draft Tax Bills is arguably the tax on retirement interests when a person ceases tax residency. The proposed tax has widely been christened as a further “exit tax” imposed on South Africans leaving the country. However, based on responses by the Minister of Finance to a written...

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The Glitch In Our New Residency-Based System

14/10/2021

South Africa’s exchange control regime has relaxed considerably over the last few years, but the most recent amendments have created widespread confusion around the definition of non-residency for exchange control purposes. In particular: When is a person non-resident for exchange control in South Africa? How do they cease to be resident for exchange control purposes?...

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Financial Emigration: Should I Stay, Or Should I Go?

07/10/2021

Whether working abroad or still hunting for jobs overseas, the possibility of a financial emigration always hits centre stage at some point. Tax is inherently complex, but once you start crossing borders it becomes an ever-changing calculation that can easily render void the benefits of earning a foreign income, which was possibly the reason why...

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SARS Issues Audit Requests Upon Ceasing Tax Residency

06/10/2021

There is an alarming number of South African expatriates relying on the ‘tick-box’ approach to cease their tax residency. Alternatively, others assume that they are no longer tax residents because they reside outside South Africa or do not maintain assets in South Africa. These misconceptions flow from the shady advice that expatriates continue to receive....

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Tax Consulting South Africa Working With SARS

30/09/2021

As the financial emigration process moves into a new era, the Tax Consulting Group is still fighting for all taxpayers under the old financial emigration regime to ensure they are not discarded. As for the current taxpayers we are in the process of trying to make the transition as smooth as possible. The old regime...

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Mauritius Is Making Residency Even More Attractive For South Africans

29/09/2021

On 10 September 2021, Mauritius officially reopened its borders to South Africans, ending the 18-month travel ban imposed on SA visitors. The Mauritius Tourism Promotion Authority (MTPA) openly welcomed South African tourists back to the Mauritius shores, which is a token of the relationship between the two countries. This sigh of relief comes at a...

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Government Faces Several Obstacles in Imposing Exit Tax on Retirement Interests

29/09/2021

The Standing Committee on Finance held public parliamentary hearings on 31 August 2021 regarding the proposals contained in the Draft 2021 Tax Bills. One of the most hotly debated items on the agenda was the proposal to tax retirement interests where South Africans cease their tax residency. During the public hearings it became evident that...

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Pathway To European Citizenship

23/09/2021

Citizenship planning has become an important element of every financial plan. Today investors are incorporating the benefits of citizenship planning in their estate planning, retirement planning, legacy planning and tax planning. Citizenship planning is also unique for every investor. An investor needs to consult with their immigration expert, Tax Lawyer, accountant, or wealth advisor to...

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Living Abroad? SARS Is Stepping Up Their Prosecuting Game

20/09/2021

South Africans living abroad should be aware of the seriousness with which SARS is dealing with non-compliance. Provided that you are working abroad and have not ceased your tax residency, while not filing tax returns or declaring your foreign income, you are most likely non-compliant. Non-compliancy with SARS will result in written demands and in...

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LATEST NEWS

Emigration Expo: Are You Coming Back?

Are Your Offshore Investment Structures Compliant With SARS?

Living The Zambian Dream – South Africa Hasn’t Forgotten About You

Is The Proposed Tax On Retirement Interests An “Exit Tax”?

The Glitch In Our New Residency-Based System

Financial Emigration: Should I Stay, Or Should I Go?

SARS Issues Audit Requests Upon Ceasing Tax Residency

Tax Consulting South Africa Working With SARS

Mauritius Is Making Residency Even More Attractive For South Africans

Government Faces Several Obstacles in Imposing Exit Tax on Retirement Interests

Pathway To European Citizenship

Living Abroad? SARS Is Stepping Up Their Prosecuting Game

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