Latest South African Emigration News & Tax Insights

Flags of South Africa and the Isle of Man waving side-by-side against a blue sky.

Isle Of Man Emerging As Territorial Forerunner Among SA Investor Expats

14/04/2022

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...

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Top Tips For Understanding Offshore Transfers

12/04/2022

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,...

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The Difference Between The SARS Non-Resident Confirmation Letter And The Emigration Tax Compliance Pin

08/04/2022

SARS Non-Resident Tax Status Confirmation Letter SARS is now officially issuing confirmation of tax non-residency letters. The letter serves as an additional confirmation one’s non-tax residency, with pre-existing documentation having an expiration date and not always suffice in dealing with some tax non-resident matters. However, this has sparked some confusion amongst the South Africans working...

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Ceasing Your Tax Residency

30/03/2022

Numerous South African taxpayers are unaware of their tax status in South Africa and what steps need to be taken to remain compliant with the South African Revenue Service (“SARS”). To add to this, there exist confusion and misconceptions surrounding expat tax where taxpayers are advised that they are compliant, but this is in most...

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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...

Miniature paper house on a tall, spiraling stack of coins, symbolizing property investment and housing costs.

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...

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LATEST NEWS

Isle Of Man Emerging As Territorial Forerunner Among SA Investor Expats

Top Tips For Understanding Offshore Transfers

The Difference Between The SARS Non-Resident Confirmation Letter And The Emigration Tax Compliance Pin

Ceasing Your Tax Residency

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?

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