Latest South African Emigration News & Tax Insights

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SARS’ Tax Law Blunder Gives Expats A Quick Breather

15/11/2021

Following deliberation with members of the public, National Treasury recently released its official response to the Parliamentary submissions on their proposed Draft Tax Bills. Among other things, Treasury noted that they would withdraw a controversial amendment that would have been problematic for South African expatriates contemplating emigration. In July 2021, the Draft Tax Law Amendment...

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Government Withdraws Proposal To Impose Exit Tax On Retirement Interests

11/11/2021

Expatriates and those with plans to emigrate will be relieved to learn that the proposal to impose an exit tax on retirement interests will be withdrawn. In presenting their Draft Response Document on the 2021 Draft Tax Bills, National Treasury and SARS confirmed that the proposal will not be included in final Taxation Laws Amendment...

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SARS And National Treasury Have Gone Quiet On Expats. What's Brewing?

09/11/2021

National Treasury’s latest published Draft Tax Bills incorporated the contentious additional “exit tax”, which proposed to tax retirement fund interests of individuals when they cease South African tax residency. Various expatriates and stakeholders opposed the draft law bill during Virtual Parliamentary sessions in August this year. However, we have not heard anything back from Treasury,...

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Zero Hour: Expat Tax Returns Due This Filing Season

08/11/2021

The past two years have been a journey into unchartered waters for all, and a particularly tense time as far as South African expatriates are concerned. For many expats, more and more questions have been left unanswered as this filing season, and the tax filing period draws to a close on 23 November. One thing,...

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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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LATEST NEWS

SARS’ Tax Law Blunder Gives Expats A Quick Breather

Government Withdraws Proposal To Impose Exit Tax On Retirement Interests

SARS And National Treasury Have Gone Quiet On Expats. What's Brewing?

Zero Hour: Expat Tax Returns Due This Filing Season

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

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