The South African Revenue Service (SARS) has been hinting at introducing a wealthy individual “specific asset” disclosure for some time – and it is finally here!
When considering SARS’ well-known “Strategic Intents” one can easily see the implementation of the “Beneficial Ownership Register” by the Companies and Intellectual Property Commission (CIPC) as a precursor for SARS’ international crackdown on non-compliance.
On 31 July 2023, National Treasury published the new draft tax law amendment bills for public comment. The public can submit their comments on the proposed amendments until the close of business on 31 August 2023. Whilst a number of the proposed amendments will not impact the average taxpayer, expatriates – specifically those who cease […]