SARS Pours Cold Water On Offshore Tax Gimmicks
The past week was a good week for SARS, and not a good one for promotors of certain offshore financial products. SARS issued a very clear Ruling that they will strictly apply the law and sends a clear statement that taxpayers should not fall for fanciful tax benefits promised by certain promotors.
Crypto Tax Support Launches In South Africa With UK Partnership
UK based software company Recap has launched its services in South Africa with a strategic partnership with specialist advisors Crypto Tax Consulting (A company under the Tax Consulting SA umbrella), bringing together Recap’s industry leading crypto tax software and Crypto Tax Consulting’s extensive experience providing assistance to South African taxpayers.
SARS’ High Wealth Individual Unit – Carrot, or Stick?
The last few years have seen an increased compliance drive by the South African Revenue Service (“SARS”), fully backed by the Presidency and the National Prosecuting Authority, and more specifically, clamping down on higher net worth individuals worldwide.
SARS Letter Confirms SA Emigrants’ Non-Tax-Residency Status – If They Can Prove It
With the introduction of a formal SARS Non-Resident Tax Status Confirmation Letter in 2021, South African expatriates may finally relax knowing that their foreign income is safe from local taxation. However, getting one of these is neither automatic nor easy, requiring applicants to follow stringent residency cessation and verification processes to qualify as non-residents for […]
Final Demand – SARS On Your Doorstep
What do you do when SARS sends you a letter of demand for payment or, even worse, takes money directly from your bank account?