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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 Khutso MakgokaLegal Consultant: Expatriate Tax, Admitted Attorney Featured in Legislative and procedural changes over the years have left expats puzzled about the […]

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

Do my retirement funds come with me when I leave South Africa? For those looking to move from South Africa, a burning question often remains: what happens to their hard-earned retirement funds? How, and when, will they be able to withdraw their retirement interests in South Africa; and of course, where will these be taxed?

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