2021 Tax Proposals Signed Into Law – 5 Key Changes
The President has given effect to the 2021 tax proposals by signing three tax Acts into law. On 14 January 2022, the President gave his assent to the Rates and Monetary Amounts and Amendment of Revenue Laws Act No. 19 of 2021 (“Rates Act”), the Taxation Laws Amendment Act No. 20 of 2021 (“TLAA”) and […]
Withdrawal Of Exit Tax Confirmed As President Signs Tax Bills Into Law
The President has given effect to the 2021 tax proposals by signing the relevant tax Acts into law. With the promulgation of the Taxation Laws Amendment Act No. 20 of 2021 (“TLAA”), Government’s promise to scrap the exit tax on retirement interests has been confirmed, at least for now.
Tax Residency Certificates: The Contentious Debate Amongst Expat Tax Advisors
For years the South African Revenue Service (“SARS”) has been trying to amend legislation to affect the way that expatriates are taxed on their foreign earnings. Their relentless pursuit for tax compliance often directs them towards individuals who are not disclosing all their earnings.
The ‘Silent’ Changes Affecting South Africans Who Are Emigrating
The transition from the old emigration regime to the current regime – ceasing of tax residency, came with some relief. However, there were some silent changes that went unnoticed. The most notable change has been the requirement of a SARS Tax Compliance Status (TCS PIN) for every capital transfer a Non-Resident/Non-Tax Resident makes to offshore.
SARS’ New Letters of Non-Residency – Hidden Teeth
The South African Revenue Service (SARS) has recently started issuing letters to taxpayers working abroad, confirming their change in status to non-residents for tax purposes. This is a somewhat peculiar development for expatriates who have previously ceased their tax residency, as they are now requiring an additional step to objectively support their non-residency as issued […]
Bad Advice Can Fuel Expat Misconceptions
Widespread misconceptions about South African expatriate tax legislation can land taxpayers in hot water with SARS, often resulting from inaccurate information from either tax practitioners or SARS personnel.
SARS Is Now Issuing Letters Confirming Non-Residency – What Does This Mean For Expats?
One of the challenges faced by taxpayers who have left South Africa and ceased their South African tax residency has been obtaining objective confirmation of the fact.
Expatriate Tax: A Definitive Textbook That Unpacks The Complexities Of Expatriate Taxes
The number of South African taxpayers working abroad have increased systematically over the last two decades, as did the number of expatriates planning to formalize their emigration.
The Expat Spouse: Unable To Work While Their Partners Work Abroad
Expat spouses are likely to accompany their partners when they relocate for work. However, their hopes of also getting work are often dashed because their spousal visas prohibit them from working in that country. They soon find themselves pinned down in a foreign country while their careers are placed on hold.
SARS’ Tax Law Blunder Gives Expats A Quick Breather
Following deliberation with members of the public, National Treasury recently released its official response to the Parliamentary submissions on their proposed Draft Tax Bills. Among other things, Treasury noted that they would withdraw a controversial amendment that would have been problematic for South African expatriates contemplating emigration.
