Tax Bills Propose Additional Exit Tax On Emigrating South Africans
National Treasury published the latest Draft Tax Bills on 28 July 2021, which incorporate the tax proposals made in the 2021 Budget.
National Treasury published the latest Draft Tax Bills on 28 July 2021, which incorporate the tax proposals made in the 2021 Budget.
Over the last couple of years, SARS has systematically increased their manpower to better orchestrate taxation processes, as well as their investigative procedures. They have also allocated R3 billion towards improving their technological and information-gathering infrastructure, which will aid in tightening the noose around individuals with undeclared foreign-earned income or cryptocurrency tax evaders.
National Treasury published the latest Draft Tax Bills on 28 July 2021, which incorporate the tax proposals made in the 2021 Budget. Highlighted below are 5 key changes proposed by Government that taxpayers need to be aware of.