Latest South African Emigration News & Tax Insights

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A Global Consensus – Prior Due Diligence Recommended for AIT Requests

02/03/2023

In the weeks following the announcement of SARS’ enhanced Approval of International Transfers (AIT) process Tax Consulting South Africa hosted technical training sessions for several SARS-recognised controlling bodies. To date, this has included the South African Institute of Taxation, the Financial Planning Institute of Southern Africa, and the South African Institute of Professional Accountants. Jashwin...

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Time To Count Your Chickens: SARS Has Changed The Tax Compliance Status Process

02/03/2023

With no fanfare or any prior notification, on 24 April 2023, SARS released new enhancements to the Tax Compliance Status (TCS) process, and with immediate effect. These changes will be directly felt by specific taxpayers seeking to transfer funds out of South Africa and will effectively change the ball game for those who have ceased...

Man looking shocked at a newspaper with 'SARS Non-Res Letters' headline, expressing tax-related distress.

An Expat Misconception: Your Tax Residency Status

23/02/2023

South Africans living abroad need to be mindful of the impact that this has on their tax obligations and ultimately, which country has a taxing right. Your tax obligation ultimately depends on your tax residency status. André Daniels Legal Manager of Tax Controversy & Dispute Resolution Kivashna Veerasamy Tax Attorney There is a common misconception...

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No Endgame: SARS Stalemates Taxpayers Ceasing Tax Residency

17/02/2023

There may be a strange game of chess being played with taxpayers who are trying to cease their South African tax residency, with the result of keeping them “trapped” as tax residents for no legitimate reason. "We have seen this often and especially in unassisted non-resident applications that are rejected for reasons that are both...

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South Africa Welcomes Foreign Property Investment Despite Widespread Global Restrictions

13/02/2023

In the midst of growing international restrictions on foreign property investors, South Africa remains a welcoming haven to these buyers. Victoria Lancefield Director of Expatriate Tax and Banking Engagement Marisa Jacobs Managing Director "Foreign investors can enjoy greater freedom to purchase a wider range of properties in South Africa with fewer and lower investment requirements,"...

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SARS Focuses on International Tax with 52 Fresh Vacancies Ahead of Budget Speech

02/02/2023

In the lead up to South Africa’s budget speech in February 2023, the South African Revenue Service (SARS) has announced the addition of 52 new vacancies to its staff . The positions listed all hint to new changes which may affect expats living and working outside of South Africa. Whilst this is a seemingly positive...

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The Importance Of An Exit Roadmap And Financial Strategy When Emigrating

30/01/2023

With the ongoing global skills shortage and South Africans being highly sort after, many individuals are choosing to Financially Emigrate with the aim of starting a life abroad. However, this decision should not be taken lightly and requires a well thought-out road map and exit strategy. South African’s planning their lives abroad have a lot...

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Your South African Retirement Savings And Their Tax Implications

20/01/2023

The National Treasury and SARS have introduced many changes to the treatment of South African retirement vehicles which have often resulted in adverse tax implications and penalties for early withdrawals, or strict rules and regulations applied. The aim of this was to incentivise South Africans to be more forward thinking and to encourage the provisioning...

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January 23 Deadline Causing Headaches For Provisional Taxpayers

18/01/2023

The recent announcement that the deadline for provisional taxpayers has been brought forward to 23 January 2023 is causing confusion. "Some provisional taxpayers have mistaken this to mean that their second provisional tax submission is due sooner this year, but this is incorrect," says Nicolas Botha, Tax Team Compliance & Processing Manager at Tax Consulting...

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Voluntary Compliance Encouraged By SARS

01/12/2022

In a media statement dated 30 November 2022, the South African Revenue Service (“SARS”) stated that they are encouraging all taxpayers who may be in default on their tax affairs to approach SARS via the Voluntary Disclosure Programme (“VDP”). By coming forward willingly, said taxpayers will receive the help and advice from SARS to expedite...

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SARS’ Sherlock Holmes Approach to Foreign Income

01/12/2022

The number of South Africans earning income abroad has continuously been on the rise. The majority percentage of the South African Revenue Service’s (SARS) tax collections have also consistently been from personal income. These two factors combined, in the context of our residency-based tax system, has massively piqued the interest of our revenue service in...

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Flying Towards A Tax Saving_Double Tax Agreement Or Financial Emigration

14/11/2022

Having visited over 12 international locations in 2022, and engaging with South African expatriates, we can attest to a recent report issued by the United Nations which found that around 900 000 South Africans are already living and working overseas – and indeed, this may well be an understatement. Delano Abdoll Legal Manager: Cross-Border Taxation...

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LATEST NEWS

A Global Consensus – Prior Due Diligence Recommended for AIT Requests

Time To Count Your Chickens: SARS Has Changed The Tax Compliance Status Process

An Expat Misconception: Your Tax Residency Status

No Endgame: SARS Stalemates Taxpayers Ceasing Tax Residency

South Africa Welcomes Foreign Property Investment Despite Widespread Global Restrictions

SARS Focuses on International Tax with 52 Fresh Vacancies Ahead of Budget Speech

The Importance Of An Exit Roadmap And Financial Strategy When Emigrating

Your South African Retirement Savings And Their Tax Implications

January 23 Deadline Causing Headaches For Provisional Taxpayers

Voluntary Compliance Encouraged By SARS

SARS’ Sherlock Holmes Approach to Foreign Income

Flying Towards A Tax Saving_Double Tax Agreement Or Financial Emigration

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