Less is more, which could not ring truer than when it comes to withholding taxes. This is especially the case in respect of dividends, which are subject to a withholding tax of 20% in South Africa.
SARS’ recruitment drive has provided some insight into the state of affairs at the organisation. With applications now closed, SARS released the details around the roughly 88,000 applications it received, and the numbers paint an unsettling picture.
South Africa has experienced a large brain drain over the past few years with many skilled South Africans emigrating. However leaving South Africa doesn’t mean you can forget your relationship with SARS.