A court ruling ordering the SA Revenue Service (SARS) to share the tax records of former president Jacob Zuma with the media may herald the start of the rolling back of the tax agency’s long-held policy of absolute taxpayer secrecy, according to adjunct associate professor Deborah Tickle of the University of Cape Town’s (UCT) Tax […]
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.
The current tax filing season is almost at an end. Many taxpayers have submitted their annual return to the South African Revenue Service (“SARS”), while others are scampering to submit their returns before the 23 November 2021 deadline.
Expatriates and those with plans to emigrate will be relieved to learn that the proposal to impose an exit tax on retirement interests will be withdrawn.
National Treasury’s latest published Draft Tax Bills incorporated the contentious additional “exit tax”, which proposed to tax retirement fund interests of individuals when they cease South African tax residency.
The past two years have been a journey into unchartered waters for all, and a particularly tense time as far as South African expatriates are concerned. For many expats, more and more questions have been left unanswered as this filing season, and the tax filing period draws to a close on 23 November.
In recent weeks we have seen first-hand the powers of SARS in holding taxpayers criminally liable where their tax affairs are not in order. What is important to note is that SARS has always had the authority through legislation to institute criminal proceedings against non-compliant taxpayers.
Tax Consulting SA and Xpatweb were exhibitors at the Durban leg of The Emigration Expo. While fielding questions, it was evident that many people are interested in working and living offshore, but they seem unsure where to start. All their questions and concerns can be compiled into three groups.
When we think of Mauritius, the mind leans towards a tropical lifestyle that includes surf, sand and sundowners. However, over the last couple of decades, the island has successfully positioned itself as one of the most favourable economic hubs in Africa. News that their final obstacle has been removed, has investors and entrepreneurs suddenly looking […]
SARS Commissioner Edward Kieswetter introduced Natasha Singh as the first director of SARS’s new specialised segment targeting high net worth individuals. Singh’s appointment is considered as strategically essential in terms of ensuring compliance with affluent individuals who have complex financial arrangements.