SARS has already begun making finer enhancements to the immigration process. One of the more recent enhancements has been to the Tax Compliance Status (TCS) system. To improve the functionality of the eFiling platform, specifically in relation to active Emigration or Foreign Investment Allowance (FIA), SARS has announced that the system will now be able to reissue the old PIN number when individuals are requesting new PIN numbers.
It’s clear that SARS is enhancing their systems to better ensure, or enforce, all-over tax compliance, specifically focusing most of its resources on foreign money, like that of expatriates working offshore.
It’s important to note that a tax clearance is still a requirement for those hoping to take funds out of South Africa. In other words, if you want to cease your tax residency or apply for financial emigration, you first need to make sure you are tax compliant in South Africa. Until you have obtained a tax clearance, you will be seen as a tax resident in South Africa, which means SARS will tax, penalize and pursue you accordingly if you remain non-compliant, and their enhancements are primed to expedite the compliance process.
If you are considering financial emigration or plan to cease your tax residency, contact an agency with superior knowledge on the most recent enhancements made to the TCS system. We will be able to guide you through the more technical aspects of your applications.