NEWS | COME RAIN OR COME SHINE, EXPATRIATE TAX WILL BE DUE SOON
Here comes the rain again With 1 March 2020 being the sunrise of the expatriate tax, the first tax payment will become due 31 August 2020.
Here comes the rain again With 1 March 2020 being the sunrise of the expatriate tax, the first tax payment will become due 31 August 2020.
The COVID-19 outbreak has propelled countries around the world to implement strict measures to combat the virus. President Cyril Ramaphosa imposed minor restrictions on gatherings and alcohol sales as a start.
A made-up story With all kinds of information regarding expatriate tax going around, seafarers and yachties (referred to jointly as seafarers hence forth) have been the ones who have been on the receiving end of the most confusing and contradicting guidance.
The slowdown in business activities due to the outbreak of COVID-19 may offer a golden opportunity for most companies and individuals to review their tax affairs and to determine what their tax practitioners has done.
Many South Africans had to scramble to set up a home office when the country went into lockdown at the end of March in an effort to curb the spread of Covid-19. When the lockdown was extended by another two weeks, employees started asking questions about the expenses they have been incurring while working from home.
As more South Africans work from home during the coronavirus pandemic, the question arises of whether they qualify for tax deductions.
Following announcement of the actions taken by government to combat the COVID-19 crisis, many South Africans may be aware of the proposed tax measures that are effective from 1 April 2020.
Following the publication on 29 March 2020 of the explanatory notes on the proposed COVID-19 tax relief, National Treasury expanded the relief with publication of the draft bills.
Following President Cyril Ramaphosa’s announcement of fiscal relief for certain taxpayers, in light of other measures imposed to combat the COVID-19 crisis, National Treasury published explanatory notes on 29 March 2020, which outline exactly how the tax system will be used to ease financial distress during these times.