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#BUDGET2022 SOUTH AFRICAN EXPATS REMAIN TOP PRIORITY FOR SARS The Budget Review 2022 was far from a “good news” budget for South Africans working abroad (“expats”). For the 5th consecutive year, there has been changes proposed that clearly indicate that SARS is still targeting expats and view them as low-hanging fruit to boost revenue collection. […]

10 KEY HIGHLIGHTS FROM THE 2022 BUDGET SPEECH The Minister of Finance, Enoch Godongwana, delivered his maiden Budget Speech this afternoon. Discussed below are 10 key highlights from the 2022 Budget Review. Jean du ToitHead of Tax Technical READ MORE Featured in 1. Tax rates have not been increased – Government refrained from increasing personal

TAX NON-RESIDENCY AND PROPERTY IN SOUTH AFRICA Tax Non-Residents can acquire and sell South African immovable property in South Africa as there are currently no restrictions prohibiting them from doing so. The only restriction is that illegal aliens may not own immovable property in South Africa. Lovemore NdlovuSARS and Exchange Control Specialist Martin BezuidenhoutExpatriate Tax

YOU ARE NO LONGER RESIDING IN SOUTH AFRICA, BUT DID YOU LET SARS KNOW? South Africans working abroad seldom follow the correct procedures when it comes to matters pertaining to tax. Most of the concerns originate from the uncertainties surrounding the ceasing of their tax residency, with many not even sure what the term really

3 QUESTIONS SA EXPATS MUST ASK ABOUT TAX RESIDENCY Access to current information has become the saving grace for expatriates. However, with the advent of social media platforms, came an accompanying surge of opportunistic advisors who unknowingly, and sometimes knowingly, mislead vulnerable expatriates in their quest for clarity, and in so doing, potentially harm their

SARS EAGER TO EMPLOY INEXPERIENCED YOUTH TO ASSIST CONFUSED TAXPAYERS The South African Revenue Service (“SARS”) recently expressed its intentions to dive into its recruitment drive with renewed vigour. First on the block, is the employment of 250 young South Africans. This presents a grave concern for expats working, or planning to work, abroad. Thomas

2021 TAX PROPOSALS SIGNED INTO LAW – 5 KEY CHANGES The President has given effect to the 2021 tax proposals by signing three tax Acts into law. On 14 January 2022, the President gave his assent to the Rates and Monetary Amounts and Amendment of Revenue Laws Act No. 19 of 2021 (“Rates Act”), the

WITHDRAWAL OF EXIT TAX CONFIRMED AS PRESIDENT SIGNS TAX BILLS INTO LAW The President has given effect to the 2021 tax proposals by signing the relevant tax Acts into law. With the promulgation of the Taxation Laws Amendment Act No. 20 of 2021 (“TLAA”), Government’s promise to scrap the exit tax on retirement interests has

THE ‘SILENT’ CHANGES AFFECTING SOUTH AFRICANS WHO ARE EMIGRATING The transition from the old emigration regime to the current regime – ceasing of tax residency, came with some relief. However, there were some silent changes that went unnoticed. The most notable change has been the requirement of a SARS Tax Compliance Status (TCS PIN) for

TAX RESIDENCY CERTIFICATES: THE CONTENTIOUS DEBATE AMONGST EXPAT TAX ADVISORS For years the South African Revenue Service (“SARS”) has been trying to amend legislation to affect the way that expatriates are taxed on their foreign earnings. Their relentless pursuit for tax compliance often directs them towards individuals who are not disclosing all their earnings. READ