In a move set to redefine the landscape of tax dispute resolution in South Africa, National Treasury has unveiled a groundbreaking proposal during the 2024 Budget Speech. The proposal aims to introduce alternative dispute resolution (“ADR”) proceedings at the objection phase of tax disputes. This strategic shift is a promising step in the right direction […]
Finance Minister, Enoch Godongwana, presented a ‘limp’ budget today in respect of the forthcoming 2024/25 tax year, seeking to maintain government expenditure, notwithstanding revenue collection shortfalls. Amidst a decline in the mining tax revenue windfalls experienced over the last two years, the Minister has sought to collect the default from the already strained individual taxpayer, […]
The Department of Home Affairs’ (the DHA) recent amendments to Immigration Regulations are likely to spark controversy among South African taxpayers, especially expatriates working abroad, who are still diligently fulfilling their South African tax obligations.
With the euphoria of living abroad wearing off for many South Africans, a growing number of expatriates are drawn back by the allure of a vibrant cultural scene, inviting temperate climate, and favorable exchange rates.
As a taxpayer with an insurmountable mountain of tax debt owed to SARS, sleepless nights and grey hair are commonplace. With your quality-of-life fast deteriorating and stress levels increased, your key concern is finding someone, anyone, who can provide you with hope that SARS will grant some reprieve and write-off a portion of your tax […]
As South Africans embark on a journey beyond our borders, the need to inform the South African Revenue Service (“SARS”) about one’s emigration is crucial for peace of mind.
Taking the leap and ceasing your tax residency is a big step for many South Africans, who are already under the strains of their physical move abroad. This stress often leaves one in a period of limbo wondering about their assets and what happens to these hard-earned investments, properties, policies and portfolios, to name a […]
In the shimmering tapestry of expatriate life, High-Net-Worth South Africans find themselves crafting stories of success on foreign soils. Amidst the allure of international opportunities, an often overlooked chapter in their expatriate journey involves the intricate dance with tax implications rather than the broader theme of emigration.
As 2023 draws to a close, the Companies and Intellectual Property Commission decided to give taxpayers something new to learn over the festive break! Throughout 2023 the CIPC, together with SARS, implemented a number of changes, including Beneficial Ownership Registers, and Foreign Director Verification; December however saw the launch of CIPC’s new and improved system […]
In a country where the tax authority, SARS, holds the power to issue third-party appointments, non-compliant taxpayers risk losing more than just sleep.