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 […]
South African expatriates living in Guernsey, Jersey or the Isle of Man are under grave threat from the South African Revenue Service (SARS).
Expatriates, beware! If you ceased your tax residency through the Financial Emigration process, you may require substantial reasoning for your return to avoid any repercussions from the South African Revenue Service (SARS).
An ITR-12 checkbox, indicating a taxpayer ceased tax residency in South Africa, is greyed out this tax season. This has confused many eFiling users wishing to leave the country permanently.
A long period of silence on cryptocurrency regulation in South Africa has finally been broken. South African Reserve Bank (“SARB”) deputy governor, Kuben Naidoo, has now confirmed that new regulations are set to be implemented within the next 12 – 18 months.
Since its inception in 2009, there have been many misconceptions about crypto assets, often referred to as cryptocurrencies. These confusions have cost eager investors millions of Rands and have subsequently been addressed or explained on numerous media platforms.
Already a popular destination with South Africans, recent developments in Mauritius promise to make this tiny island paradise more accessible to expatriates than ever.
In view of July being just around the corner, and with it, the opening of the 2022 tax season, there is an increasing need for voluntary compliance throughout the taxpayer population. This is even more imperative for taxpayers who have income-generating assets, as should taxpayers have failed to declare any income in prior years, and […]
Last year’s Budget Speech announced that the South African Revenue Service (“SARS”) are to set up a specialised High Wealth Individuals’ Unit, now commonly known as the HWI Unit.
The 2022 tax filing season is now already open, and SARS has introduced a new “auto-assessment” protocol.