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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

The Market Has Spoken Experienced Hands Needed to Navigate SARS’ Enhanced AIT Process The market saw mixed reactions following the implementation of the enhanced Approval of International Transfers (AIT) process on 24 April 2023. Jashwin BaijooHead of Strategic Engagement & Compliance at Tax Consulting SA READ MORE Featured in On the one hand, there was

The Cost of Non-Compliance SARS’ Shrapnel Knows No Borders SARS has made it easier to clamp down on individuals it deems as “sophisticated taxpayers”, specifically those with the ability “to apply for more than the yearly R1 million single discretionary allowance”. This is per the SARS media statement on 3 May 2023, and is one

New AIT Enhancements Not to be Taken Lightly On 24 April 2023, the new enhanced Tax Clearance Status System, was introduced, this being the Approval for International Transfer, or AIT application, as it has been coined. Without much fanfare, SARS’ immediate implementation of this new process may have come as a shock to the market,