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TOP TIPS FOR UNDERSTANDING OFFSHORE TRANSFERS What Are The New Rules? Since the announcement by Treasury effective 1 March 2021 to the process of Financial Emigration and ceasing ones tax residency, the transfer of funds offshore for expatriates (emigrants as known under exchange control), has in some regards become more flexible, in terms of allowing […]

THE DIFFERENCE BETWEEN THE SARS NON-RESIDENT CONFIRMATION LETTER AND THE EMIGRATION TAX COMPLIANCE PIN SARS Non-Resident Tax Status Confirmation Letter SARS is now officially issuing confirmation of tax non-residency letters. The letter serves as an additional confirmation one’s non-tax residency, with pre-existing documentation having an expiration date and not always suffice in dealing with some

CEASING YOUR TAX RESIDENCY Numerous South African taxpayers are unaware of their tax status in South Africa and what steps need to be taken to remain compliant with the South African Revenue Service (“SARS”). To add to this, there exist confusion and misconceptions surrounding expat tax where taxpayers are advised that they are compliant, but

SOUTH AFRICAN RESERVE BANK LEAVES AUTHORISED DEALERS HIGH AND DRY Effective 1 March 2021, the South African Reserve Bank (SARB) removed themselves from the process of Financial Emigration. The move was gladly welcomed by Authorised Dealers (banks), as this took away the burdensome process banks had to follow guided by Exchange Control Rulings. Lovemore NdlovuSARS

ROUGH SEAS AHEAD FOR TAXPAYERS WORKING ON THE SHIPS In search for opportunities abroad, many South Africans have taken to the seas. It might not be the same as working in a new country, but it offers a change of scenery while earning a foreign income.  Labert RobertsExpatriate Tax Team Manager READ MORE Featured in

WHY EMIGRATING TO THE NETHERLANDS IS ATTRACTIVE TO SOUTH AFRICANS With various countries closing their borders since the inception of the COVID-19 pandemic, the Netherlands has emerged as one of the new frontrunners as a destination for emigrating South African to further their careers. READ MORE Featured in Not only is the Netherlands attractive in

#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 Toit Head of Tax Technical READ MORE Featured in 1. Tax rates have not been increased – Government refrained from increasing

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