News

From departure to encashment: the two-pot retirement system The much anticipated two-pot retirement system, introduced as a “knight in shining armour” for South Africans, has received a new implementation date of March 2024. Expats are cautioned to pay attention to the effects that this will have on the encashment of their retirement savings. READ MORE […]

Demystifying the Cease Tax Residency Process – Back to Basics South African expatriates are often faced with a challenging decision – whether or not to cease their tax residency in South Africa (SA). However, this process has evolved drastically over the last few years, causing confusion for expatriates and tax professionals alike. Many remain unaware

SARS Continues to Place South African Expats at a Crossroads In recent years, the South African Revenue Service (SARS) and National Treasury have implemented several legislative and policy changes that have paved the way to enforcing the tax obligations of South Africans living and working abroad. Lovemore NdlovuHead of SARB Engagement and Expatriate Compliance Thomas

Expats, You’re Using a DTA Across the Border; What About Your Precious Funds? Cue SARS’ AIT Application As of 24 April 2023, the South African Revenue Service (SARS) changed the rules by which taxpayers have to play when it comes to applying for funds to be transferred internationally. If you have not heard by now,

Splitting the Difference: New Rules for Taxpayers Ceasing Tax Residency On 31 July 2023, National Treasury published the new draft tax law amendment bills for public comment. The public can submit their comments on the proposed amendments until the close of business on 31 August 2023. Whilst a number of the proposed amendments will not

Shades of Grey: SARS Clearances and Greylisting The greylisting of South Africa by the Financial Action Task Force (FATF), due to concerns about the country’s anti-money laundering efforts, has had significant consequences for individuals and businesses operating within South Africa. One of the key impacts of greylisting is the increased scrutiny of cross-border financial transactions,

Exit Tax Detrimental or Desirable; What You Need to Know When pursuing international career growth, and offshore employment, be aware that moving your person, without the requisite paperwork, will have you scoring bonuses in Belgium, but still subject to SARS in South Africa. In order to ensure optimal taxation, South Africans abroad must make use

A Global Consensus Prior Due Diligence Recommended for AIT Requests In the weeks following the announcement of SARS’ enhanced Approval of International Transfers (AIT) process Tax Consulting South Africa hosted technical training sessions for several SARS-recognised controlling bodies. To date, this has included the South African Institute of Taxation, the Financial Planning Institute of Southern

Demystifying Double Taxation Agreements What South African Expatriates Need To Know With the Covid-19 pandemic largely in the rear-view mirror, tens of thousands of South Africans are seizing lucrative employment opportunities abroad. At the same time, many of these expatriates are unaware that their hard-earned income is at risk of being taxed twice. On the

5 Reasons South Africans Consider a Second Passport The Henley & Partners, in collaboration with Tax Consulting South Africa, hosted their annual roadshow in May 2023 on the topic of ‘Investment Migration Is More Than Just a Plan B.’. This again highlights the reasons why South Africans are considering getting a second passport. READ MORE