Changing Hands, Changing Currencies – SARB Approval For Cross-Border Transactions
In light of recent developments on the sides of both the South Africa Revenue Service (“SARS”) and the South African Reserve Bank (“SARB”), the regulatory burden for the cross-border flow of funds, resulting from transactions concluded between South African residents and foreign parties, has been significantly eased.
Tax Consulting South Africa Working With SARS
As the financial emigration process moves into a new era, Tax Consulting is still fighting for all taxpayers under the old financial emigration regime to ensure they are not discarded. As for the current taxpayers we are in the process of trying to make the transition as smooth as possible.
Mauritius Is Making Residency Even More Attractive For South Africans
On 10 September 2021, Mauritius officially reopened its borders to South Africans, ending the 18-month travel ban imposed on SA visitors. The Mauritius Tourism Promotion Authority (MTPA) openly welcomed South African tourists back to the Mauritius shores, which is a token of the relationship between the two countries.
Government Faces Several Obstacles in Imposing Exit Tax on Retirement Interests
The Standing Committee on Finance held public parliamentary hearings on 31 August 2021 regarding the proposals contained in the Draft 2021 Tax Bills. One of the most hotly debated items on the agenda was the proposal to tax retirement interests where South Africans cease their tax residency. During the public hearings it became evident that […]
Lifestyle Audits – All Bark WITH Selective Bites?
In addressing the National Tax Indaba on Monday 20 September, Commissioner of the South African Revenue Service (“SARS”), Edward Kieswetter, noted that their position as an organization is to focus on collecting the “lowest hanging fruit”, which statement may be interpreted in numerous ways, including taxpayers asking themselves if SARS is simply opting for the […]