Sayonara to Tax Free Earnings The proposed amendment to section 10(1)(o)(ii), the exemption section referred to often as the so-called 183-and-60-day rule aims to limit the current tax-free earning situation of South African tax residents working abroad. Under the current regime, taxpayers who are resident in the Republic and earn an income under a foreign […]
SARS to Exchange Tax Information with over 50 Jurisdictions The South African Revenue Service (SARS) has committed to the automatic exchange of tax information with the revenue authorities of over 50 other jurisdictions under the Organisation for Economic Co-operation & Development (OECD) Common Reporting Standard (CRS) by September 2017. This international initiative goes hand-in-hand with […]
The following Bills were promulgated and signed on 11 January 2017 by President Jacob Zuma: The Taxation Laws Amendment Act; The Tax Administration Laws Amendment Act, 2016; The Rates and Monetary Amounts and Amendment of Revenue Laws (Administration) Act, 2016; and The Rates and Monetary Amounts and Amendment of Revenue Laws Act, 2016. Several changes have […]