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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

SARS’ NEW LETTERS OF NON-RESIDENCY – HIDDEN TEETH The South African Revenue Service (SARS) has recently started issuing letters to taxpayers working abroad, confirming their change in status to non-residents for tax purposes. This is a somewhat peculiar development for expatriates who have previously ceased their tax residency, as they are now requiring an additional

SARS IS NOW ISSUING LETTERS CONFIRMING NON-RESIDENCY WHAT DOES THIS MEAN FOR EXPATS? One of the challenges faced by taxpayers who have left South Africa and ceased their South African tax residency has been obtaining objective confirmation of the fact. READ MORE Featured in Ordinarily, this dilemma would require a taxpayer to maintain a preponderance

SARS’ TAX LAW BLUNDER GIVES EXPATS A QUICK BREATHER Following deliberation with members of the public, National Treasury recently released its official response to the Parliamentary submissions on their proposed Draft Tax Bills. Among other things, Treasury noted that they would withdraw a controversial amendment that would have been problematic for South African expatriates contemplating

GOVERNMENT WITHDRAWS PROPOSAL TO IMPOSE EXIT TAX ON RETIREMENT INTERESTS Expatriates and those with plans to emigrate will be relieved to learn that the proposal to impose an exit tax on retirement interests will be withdrawn. Jean du Toit Head of Tax Technical READ MORE Featured in In presenting their Draft Response Document on the

SARS AND NATIONAL TREASURY HAVE GONE QUIET ON EXPATS. WHAT’S BREWING? SARS Commissioner Edward Kieswetter introduced Natasha Singh as the first director of SARS’s new specialised segment targeting high net worth individuals. Singh’s appointment is considered as strategically essential in terms of ensuring compliance with affluent individuals who have complex financial arrangements. Victoria LancefieldGeneral Manager

ZERO HOUR EXPAT TAX RETURNS DUE THIS FILING SEASON The past two years have been a journey into unchartered waters for all, and a particularly tense time as far as South African expatriates are concerned. For many expats, more and more questions have been left unanswered as this filing season, and the tax filing period