As the South African Revenue Service (SARS) intensifies its focus on the tax compliance of high net-worth individuals (HNWI), a self-governing island nation located in the Irish Sea has steadily emerged as an appealing emigration destination for prospective South African expatriates.
SARS Non-Resident Tax Status Confirmation Letter SARS is now officially issuing confirmation of tax non-residency letters. The letter serves as an additional confirmation one’s non-tax residency, with pre-existing documentation having an expiration date and not always suffice in dealing with some tax non-resident matters. However, this has sparked some confusion amongst the South Africans working […]
Numerous South African taxpayers are unaware of their tax status in South Africa and what steps need to be taken to remain compliant with the South African Revenue Service (“SARS”). To add to this, there exist confusion and misconceptions surrounding expat tax where taxpayers are advised that they are compliant, but this is in most […]
Effective 1 March 2021, the South African Reserve Bank (SARB) removed themselves from the process of Financial Emigration. The move was gladly welcomed by Authorised Dealers (banks), as this took away the burdensome process banks had to follow guided by Exchange Control Rulings.
In search for opportunities abroad, many South Africans have taken to the seas. It might not be the same as working in a new country, but it offers a change of scenery while earning a foreign income.
With various countries closing their borders since the inception of the COVID-19 pandemic, the Netherlands has emerged as one of the new frontrunners as a destination for emigrating South African to further their careers.
The Budget Review 2022 was far from a “good news” budget for South Africans working abroad (“expats”). For the 5th consecutive year, there has been changes proposed that clearly indicate that SARS is still targeting expats and view them as low-hanging fruit to boost revenue collection.
The Minister of Finance, Enoch Godongwana, delivered his maiden Budget Speech this afternoon. Discussed below are 10 key highlights from the 2022 Budget Review.
Tax Non-Residents can acquire and sell South African immovable property in South Africa as there are currently no restrictions prohibiting them from doing so. The only restriction is that illegal aliens may not own immovable property in South Africa.
Worried about your assets when you break tax ties with South Africa, here are some tips.13/12/2024 - 09:15
Understanding and Changing Your Tax Residency Status in South Africa02/12/2024 - 14:00
Avoid nasty tax surprises by checking your tax residency status with SARS26/11/2024 - 12:23
Reporting Requirements for Ceasing South African Tax Residency20/11/2024 - 07:53
Financial Emigration: Legal and Compliance Considerations13/11/2024 - 08:55