November 2023

Exchange Control and Tax Residency in South Africa The South African Reserve Bank (SARB), in collaboration with various financial institutions, maintains a comprehensive record of the residency status of all South African banking customers. Lovemore NdlovuHead of SARB Engagement and Expatriate Compliance READ MORE Featured in This practice is integral to their financial surveillance and […]

Navigating Tax Residency: A Guide for South African Expats For South Africans who have ceased their tax residency, unlocking one’s retirement savings becomes a nuanced journey filled with complexity and uncertainty. READ MORE Roxanna NaidooGlobal Partner and Client Engagement Khutso MakgokaLegal Consultant: Expatriate Tax, Admitted Attorney Featured in Legislative and procedural changes over the years

Further Changes to the Approval for International Transfer Process On 24 April 2023, the South African Revenue Service (SARS) released new enhancements to the Tax Compliance Status (TCS) process, with immediate effect. The changes made by SARS mainly concerned the approvals required by individuals when transferring funds out of South Africa. Now, SARS has made