Latest South African Emigration News & Tax Insights

FINANCIAL EMIGRATION - REQUIREMENTS AND MISCONCEPTIONS

28/05/2019

There is a lot of misinformation circling in the South African expatriate community about the amended expatriate tax law taking effect on 1 March 2020 and the process of Financial Emigration. We often have clients approach us where they have been subjected to scaremongering or solicited by “one-man” bands promoting their own agenda. These so-called...

SOUTH AFRICAN EXPAT TAX: YOUR QUESTIONS ANSWERED BY THE EXPERTS

22/05/2019

With South Africans who live or work abroad facing the imminent introduction of “expat tax”, there has been a lot of scaremongering and confusion. Recently the expert tax team at Tax Consulting South Africa kindly offered to answer SAPeople members’ questions. Here you will find a selection of the questions submitted and answers by Jerry...

Drought-stricken landscape with cracked earth, a dead tree, and text: 'EXPATS BRACE YOURSELVES, THE LEAN YEARS ARE COMING'.

Brace For The Expatriate Tax Exemption

07/03/2019

BRACE YOURSELVES, THE LEAN YEARS ARE COMING If there was any doubt amongst taxpayers, especially South Africans working abroad, National Treasury, on 6 March 2019, categorically confirmed that it is forging ahead with the implementation of the amended section 10(1)(o)(ii) (“the Expat Exemption”). Since the announcement that the Expat Exemption would be amended in 2017,...

Text 'OECD's Common Reporting Standard leaves no place to hide' next to a person typing on a laptop with a global network

Budget Speech 2019 - OECD’s Common Reporting Standard – Nowhere To Hide

21/02/2019

National Budget Speech – OECD’s Common Reporting Standard – Nowhere To Hide The Budget Speech is just one of the times where a tax attorney shows their worth. Instead of just reviewing the headlines, a tax attorney should be delving into the budget proposals, current policies and policy adjustments. The need for an in-depth review...

National Treasury opens door for discussions on expat tax, displayed with Financial Emigration branding and a formal meeting

National Treasury opens door for more discussions on expat tax

18/02/2019

National Treasury has invited key stakeholders to a workshop early next month to address continued concerns around the amended foreign income tax exemption. The change is set to become effective on 1 March 2020. In terms of the amended section of the Income Tax Act, South Africans working abroad will in future be taxed in...

Tax Residency and Financial Emigration: Everyone is an Expert

07/02/2019

Financial Emigration Ceases Tax and Exchange Control Residency The process of “Financial Emigration” terminates your tax residency status with the South African Revenue Service (“SARS”) as well as your status as exchange control resident with the South African Reserve Bank (“SARB”). The SARS process includes a verification or “audit” procedure, as financial emigration is not...

Offshore Tax Exemption to be Reviewed

28/01/2019

The controversial tax on income South Africans earn abroad and the R1 million exemption on it will be revisited during a special workshop between National Treasury and industry players in coming weeks. Several organisations and individuals submitted proposals at the end of November, to be considered during next month’s Budget to address concerns raised about...

Hourglass and globe next to text: Countdown to Amended South African Expatriate Tax Law by Financial Emigration.

Countdown to the Commencement of the Amended South African Expatriate Tax Law

15/01/2019

The announcement by National Treasury and SARS in 2017 that the tax exemption on South African expatriates is set to change, has resulted in the lifestyle of many South Africans, who are employed by companies abroad, to rapidly change from a South African tax liability point of view. The legislative amendment, which will come into...

South African Rand notes and coins on a map of Africa, next to text "SOUTH AFRICANS ABROAD: KNOW YOUR TAX AFFAIRS" and

South Africans Abroad: Tax Requirements

04/12/2018

The new expatriate tax law comes into effect 1 March 2020. However, many South Africans abroad believe that the law has not been legally amended and will thus not affect them. This belief is unfortunately incorrect, as the law change has been fully enacted. We have provided a concise breakdown of the tax law above...

World map with gold coins tracing a path, illustrating global financial movement, accompanying an article on tax compliance

Tax Compliance For Expats

19/09/2018

Financial Emigration or Double Taxation Agreement? Which suits your situation better? When it come to choosing Financial Emigration (FE) or a Double Taxation Agreement (DTA), expatriates must understand that there can never be a one-size-fits all approach. Unfortunately, there is a lot of misinformation circulating in the South African expatriate community, perpetuated by service providers...

Stacks of gold coins and a global network map, next to text about panic and uncertainty regarding expatriate tax law.

Panic, Uncertainty about Expatriate Tax Law

13/09/2018

Tax practitioners say their clients remain panicked and concerned about the ‘expat tax’, despite National Treasury adopting a relatively softer stance. “I see a lot of panic coming our way,” Bari Duvenhage, personal tax specialist at Regan van Rooy, told delegates at the Tax Indaba. She says expats are unsure how it will impact their...

South Africans Abroad: Know your Tax Affairs

24/08/2018

Incorrect information and advice from tax practitioners, or in some cases South African Revenue Service (SARS) officials, has resulted in the misunderstanding of complex South African expatriate tax legislation, which has landed many South African in deep water with SARS. This has led to many expats being under the incorrect impression that their tax affairs...

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LATEST NEWS

FINANCIAL EMIGRATION - REQUIREMENTS AND MISCONCEPTIONS

SOUTH AFRICAN EXPAT TAX: YOUR QUESTIONS ANSWERED BY THE EXPERTS

Brace For The Expatriate Tax Exemption

Budget Speech 2019 - OECD’s Common Reporting Standard – Nowhere To Hide

National Treasury opens door for more discussions on expat tax

Tax Residency and Financial Emigration: Everyone is an Expert

Offshore Tax Exemption to be Reviewed

Countdown to the Commencement of the Amended South African Expatriate Tax Law

South Africans Abroad: Tax Requirements

Tax Compliance For Expats

Panic, Uncertainty about Expatriate Tax Law

South Africans Abroad: Know your Tax Affairs

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