NEWS | SOUTH AFRICAN EXPAT TAX: YOUR QUESTIONS ANSWERED BY THE EXPERTS
With South Africans who live or work abroad facing the imminent introduction of “expat tax”, there has been a lot of scaremongering and confusion. Recently the expert tax team at Tax Consulting South Africa kindly offered to answer SAPeople members’ questions. Here you will find a selection of the questions submitted and answers by Jerry Botha, Managing Partner […]
Brace For The Expatriate Tax Exemption
If there was any doubt amongst taxpayers, especially South Africans working abroad, National Treasury, on 6 March 2019, categorically confirmed that it is forging ahead with the implementation of the amended section 10(1)(o)(ii) (“the Expat Exemption”).
Budget Speech 2019 – OECD’s Common Reporting Standard – Nowhere To Hide
National Budget Speech – OECD’s Common Reporting Standard – Nowhere To Hide The Budget Speech is just one of the times where a tax attorney shows their worth. Instead of just reviewing the headlines, a tax attorney should be delving into the budget proposals, current policies and policy adjustments. The need for an in-depth review […]
National Treasury opens door for more discussions on expat tax
National Treasury has invited key stakeholders to a workshop early next month to address continued concerns around the amended foreign income tax exemption. The change is set to become effective on 1 March 2020.
Tax Residency and Financial Emigration: Everyone is an Expert
Financial Emigration Ceases Tax and Exchange Control Residency The process of “Financial Emigration” terminates your tax residency status with the South African Revenue Service (“SARS”) as well as your status as exchange control resident with the South African Reserve Bank (“SARB”). The SARS process includes a verification or “audit” procedure, as financial emigration is not […]
Offshore Tax Exemption to be Reviewed
The controversial tax on income South Africans earn abroad and the R1 million exemption on it will be revisited during a special workshop between National Treasury and industry players in coming weeks.
Countdown to the Commencement of the Amended South African Expatriate Tax Law
The announcement by National Treasury and SARS in 2017 that the tax exemption on South African expatriates is set to change, has resulted in the lifestyle of many South Africans, who are employed by companies abroad, to rapidly change from a South African tax liability point of view.
Tax Compliance For Expats
Financial Emigration or Double Taxation Agreement? Which suits your situation better? When it come to choosing Financial Emigration (FE) or a Double Taxation Agreement (DTA), expatriates must understand that there can never be a one-size-fits all approach.
Panic, Uncertainty about Expatriate Tax Law
Tax practitioners say their clients remain panicked and concerned about the ‘expat tax’, despite National Treasury adopting a relatively softer stance. “I see a lot of panic coming our way,” Bari Duvenhage, personal tax specialist at Regan van Rooy, told delegates at the Tax Indaba.
South Africans Abroad: Know your Tax Affairs
Incorrect information and advice from tax practitioners, or in some cases South African Revenue Service (SARS) officials, has resulted in the misunderstanding of complex South African expatriate tax legislation, which has landed many South African in deep water with SARS.
