South Africans Creating Offshore Wealth By Switching SA Life Policies To Dollar
Reflecting their bearish view on the rand, South African expatriates holding rand-denominated life policies are increasingly opting to convert their policies to the dollar, providing a hedge to the rand while exempting them from domestic estate tax.
New Landmark Study For Tax Professionals
A new landmark study is set to call out the most significant operational, regulatory and legislative challenges experienced by tax practitioners in South Africa with a view to improving the level of support provided by industry bodies and expediting often-onerous interactions with government tax agencies.
SARS Intensifies Collaboration With International Tax Authorities To Identify Non-Compliant South African Taxpayers
The South African Revenue Service (SARS) continues to make good its commitment to call non-compliant South African taxpayers to account, most recently collaborating with the Irish Tax Authority (“ITA”) to identify South Africans operating Airbnb businesses in Ireland.
International Exchange Of Information – Get Your Airbnb In Order
It has come to light in March 2022, that the Irish Tax Authority (“ITA”) has reached out to Airbnb Ireland UC (“Airbnb”), for the disclosure of specific information, as pertains to income generated from the online accommodation booking platform, across both current and historical transactions.
Isle Of Man Emerging As Territorial Forerunner Among SA Investor Expats
As the South African Revenue Service (SARS) intensifies its focus on the tax compliance of high net-worth individuals (HNWI), a self-governing island nation located in the Irish Sea has steadily emerged as an appealing emigration destination for prospective South African expatriates.