NEWS | UNDERSTANDING SOUTH AFRICAN EXPAT TAX
Amendments to the Income Tax Act will soon see all South Africans working outside the country’s borders contribute to the fiscus from 1 March 2020.
NEWS | SARS REIMAGINED – TAX DODGERS TAKE NOTE
On 1 February 2020, SARS released an exciting media statement, indicating that the revenue authority has embarked on a journey to reinvent SARS. With the power of technology and with the right people, SARS hopes to build an organisation that will provide a world-class service to the compliant taxpayer, but one that will be equally […]
NEWS | SOUTH AFRICAN SEAFARERS AND YACHTIES: KNOW YOUR TAX OBLIGATIONS
As most know by now, SARS is grappling to increase revenue for their coffers, looking to South Africans who earn foreign income to subsidise the deficit. With all the uncertainty around the change in the foreign employment income exemption, which is coming into effect as of 1 March 2020, more and more people are wanting […]
NEWS | THE FISCUS NEEDS MONEY – WHAT TO EXPECT IN THE UPCOMING BUDGET?
On 15 January 2020, President Cyril Ramaphosa signed into law five different revenue related bills. These bills, which have now been promulgated include the Taxation Laws Amendment Act No. 34 of 2019, the Tax Administration Laws Amendment Act No. 33 of 2019 and the Rates and Monetary Amounts and Amendment of Revenue Laws Act No. […]
NEWS | DIRE NEED FOR ECONOMIC GROWTH TO STIMULATE REVENUE COLLECTIONS
The World Bank has slashed South Africa’s economic growth forecast for 2020 from 1.5% to a mere 0.9%. This, while the country is faced with a revenue shortfall of anything between R50bn and R100bn for the tax year ending March.
NEWS | SEAFARERS TO BENEFIT FROM CHANGES TO THE SCHENGEN VISA
Effective from 02 February 2020, various changes to the Schengen Visa will come into effect as approved by the European Commission in June 2019.
NEWS | TAX D-DAY IS HERE: SA EXPATS IN FOR A BUMPY RIDE WITH SARS
South African legislation governing expatriate tax exemption is set to change dramatically from 1st March 2020, affecting South Africans worldwide. This includes anyone who has permanently settled in another country.
NEWS | SOUTH AFRICA’S NEW EXPAT TAX ‘A SCARE TACTIC – EXPERT’
Thousands of South Africans will be impacted by new amendments to the Income Tax Act which will come into effect from 1 March 2020, says Nicolas Botha, a senior financial emigration specialist at Tax Consulting SA.
NEWS | EXPAT TAX: COUNTDOWN TO IMPLEMENTATION KICKS OFF
An amendment to the Income Tax Act will bring considerable change to the expat landscape as from March 1, 2020. Jean du Toit and Jonty Leon are the technical editors of the publication “Expatriate Tax – South African Citizens Working Abroad and Foreigners in South Africa”.
NEWS | AN IMPORTANT DATE WITH THE TAXMAN IS AROUND THE CORNER
The February payment is the most crucial for provisional taxpayers – and don’t assume that you aren’t one. Taxpayers who earn additional income such as rental, trade or interest income have an important date with the taxman at the end of February. It is the time when they have to submit their provisional tax return […]