Living The Zambian Dream – South Africa Hasn’t Forgotten About You
Many South Africans work and live in Zambia because it is a favourable mining, construction, and agricultural African destination. Some of these South Africans have either temporarily or permanently made the move to Zambia without following the correct emigration procedures to mitigate their tax exposure in South Africa.
Is The Proposed Tax On Retirement Interests An “Exit Tax”?
The most contentious proposal introduced by the 2021 Draft Tax Bills is arguably the tax on retirement interests when a person ceases tax residency. The proposed tax has widely been christened as a further “exit tax” imposed on South Africans leaving the country. However, based on responses by the Minister of Finance to a written […]
The Glitch In Our New Residency-Based System
South Africa’s exchange control regime has relaxed considerably over the last few years, but the most recent amendments have created widespread confusion around the definition of non-residency for exchange control purposes.
Financial Emigration: Should I stay, or should I go?
Whether working abroad or still hunting for jobs overseas, the possibility of a financial emigration always hits centre stage at some point.
SARS Issues Audit Requests Upon Ceasing Tax Residency
There is an alarming number of South African expatriates relying on the ‘tick-box’ approach to cease their tax residency. Alternatively, others assume that they are no longer tax residents because they reside outside South Africa or do not maintain assets in South Africa. These misconceptions flow from the shady advice that expatriates continue to receive.