Living Abroad? SARS Is Stepping Up Their Prosecuting Game
South Africans living abroad should be aware of the seriousness with which SARS is dealing with non-compliance. Provided that you are working abroad and have not ceased your tax residency, while not filing tax returns or declaring your foreign income, you are most likely non-compliant.
Mauritius Revenue Authority Declares That Foreign Trusts Are No Longer Exempt From Paying Tax
Recently the Mauritius Revenue Authority (“MRA”) announced by way of a Statement of Practice (“SOP”) that foreign trusts held in Mauritius will no longer be exempt from income taxes.
Policy Withdrawals After Financial Emigration – SARS’ Current Challenges
There are many reasons why South African tax residents undertake to cease tax residency through the financial emigration process. One of the reasons is that a successful financial emigration provides one with the rare opportunity to fully encash your policy funds.
Criminality Of Non-Compliance – SARS Makes Good On Its Word
After having been alluded to for months by SARS Commissioner Edward Kieswetter and being re-emphasized in his media statement of early August, following the recent lootings, SARS will still chase after those taxpayers who are non-compliant.
SARS’ Role In The Criminal Justice System
SARS is mandated through legislation to conduct a criminal investigation if it suspects tax fraud. Once it has been finalised, they register a formal complaint with the South African Police Services.