National Treasury has provided their responses to the public comments on the annual draft tax law amendment bill! Although still a work in progress, there are some pertinent proposed changes. From a global business expansion perspective, one such proposal is the inclusion of the use of “Advanced Pricing Agreements” (“APAs”) in South African domestic law, […]
On 24 April 2023, the South African Revenue Service (SARS) released new enhancements to the Tax Compliance Status (TCS) process, with immediate effect. The changes made by SARS mainly concerned the approvals required by individuals when transferring funds out of South Africa. Now, SARS has made further changes – but what are these changes, and […]
Many South African taxpayer’s received a general warning on 24 October 2023, that SARS will not only penalise their non-compliance status, but “will initiate the criminal process” against a taxpayer.
Many South Africans have, in the course of their lives, either registered a company to give wings to a brilliant (or not so brilliant) idea or been appointed as the Tax Representative of a going concern. Whether you fall into these 2 categories, or simply have a dormant company to your name, your tax return […]
For those looking to move from South Africa, a burning question often remains: what happens to their hard-earned retirement funds? How, and when, will they be able to withdraw their retirement interests in South Africa; and of course, where will these be taxed?
2023 has gone by in a blur, and Christmas is just around the corner; business has started winding down for the year, but NOT SARS’ collection drive!
As a South African tax resident, one of the scariest situations you can find yourself in is where you have a large tax debt owed to SAR, which you cannot afford. You would hope and pray that the revenue authority shows you mercy, and imagine they offer to write-off a portion of your tax debt; […]
Tax Consulting South Africa and Xpatweb visited the Isle of Man over the weekend of 23 September for the first Saffas festival, where over 800 South Africans living and working on the Island were hosted.
With the corporate tax collection deficit announced in September 2023, SARS is dead set on filling at least this fiscal pothole.
The draft tax law amendment published in August and targeting foreign employers has inadvertently led to an uproar amongst South African remote workers who fear the law change may disincentivize foreign employers from retaining the services of South African talent.