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 […]
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 […]
The common misconception amongst expatriates, however, is that getting on a plane and leaving South Africa will trigger the South African Revenue Service (“SARS”) to automatically regard them as non-resident taxpayers. This is certainly not the case, as the correct process must be followed to cease one’s South African tax residency status. If not, SARS […]
Lifestyle audits were initiated by SARS back in 2007, however actual action earnestly began only a few years ago with the arrival of SARS Commissioner Edward Kieswetter. These audits are conducted when SARS suspects that the taxpayer is not declaring all his or her income and thus is underpaying the factual tax due.
SARS has started to make good on its promise in the 2020 Budget Review by enhancing their verification and audit processes to accurately review the compliance and tax statuses of South Africans abroad.
As emigration by skilled South Africans rises, experts in the auditing and insurance sectors have warned this will weaken the country’s skills base and reduce the pool of wealthy individuals, whose spending on goods and services support many businesses.
Expatriate taxpayers awaiting approval of their non-resident status may be surprised to discover that SARS can track their flights into and out of South Africa.
SARS introduced its Tax Non-Resident Confirmation letter in 2021, and it now appears that emigrated taxpayers, whose residency status was previously disclosed to SARS as non-resident, are now finding their status has been reset to ‘resident’. This may possibly have been due to a bug, or one arm not speaking to the other, when SARS […]
A momentous event, held on 22 August 2022, drew a massive audience, comprising many well-known high net worth VIPs, senior SARS officials and officials from other African Revenue Authorities, tax heads in various capacities, top wealth managers, academics and other notable attendees.
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