With the Covid-19 pandemic largely in the rear-view mirror, tens of thousands of South Africans are seizing lucrative employment opportunities abroad. At the same time, many of these expatriates are unaware that their hard-earned income is at risk of double taxation.
Following years of litigation dating as far back as 2017, the High Court has confirmed that SARS is well within its right to increase, at appeal stage, the tax liability it has claimed in an additional assessment; without having to issue a new assessment first.
The Henley & Partners, in collaboration with Tax Consulting South Africa, hosted their annual roadshow in May 2023 on the topic of ‘Investment Migration Is More Than Just a Plan B.’. This again highlights the reasons why South Africans are considering getting a second passport.