Financial Emigration Ceases Tax and Exchange Control Residency The process of “Financial Emigration” terminates your tax residency status with the South African Revenue Service (“SARS”) as well as your status as exchange control resident with the South African Reserve Bank (“SARB”). The SARS process includes a verification or “audit” procedure, as financial emigration is not […]
The Taxation Laws Amendment Act No. 23 of 2018, promulgated on 17 January 2019, extended the Employee Tax Incentive scheme (“ETI scheme”), which would have lapsed on 28 February 2019, for a further 10 years.
Western Cape Premier Helen Zille’s call for a tax revolt is “quite anarchist” as it promotes civil disorder and disobedience, an economist has said.
The arrival of Angelo Agrizzi at the State Capture Commission has been nothing short of spectacular.
The controversial tax on income South Africans earn abroad and the R1 million exemption on it will be revisited during a special workshop between National Treasury and industry players in coming weeks.
Running errands, doing collections and deliveries, sourcing supplies and materials, and liaising with suppliers and customers? It’s all in a day’s work for employers and employees of small businesses.
The 2019 election year brings the normal risk of some tax populist decisions, including much higher social grants. This will add to the fiscus’ pressure, desperate for additional tax revenues. Personal income tax, which is mostly collected from employees, is by far the largest contributor to tax in South Africa. The goose which lays the […]
The announcement by National Treasury and SARS in 2017 that the tax exemption on South African expatriates is set to change, has resulted in the lifestyle of many South Africans, who are employed by companies abroad, to rapidly change from a South African tax liability point of view.
The Nugent Commission of Inquiry will hand over its final report to President Cyril Ramaphosa on Friday and it is expected to make further recommendations to stabilise the South African Revenue Service (SARS).