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.
Since their inception, crypto assets have confounded investors and governments the world over. Their novelty, diversity and accessibility opened them up to scrutiny from fiscal authorities, while their volatility opened investors up to susceptibility.
On 12 October 2021, the South African Revenue Services (SARS) launched a survey aimed at certain taxpayers and traders. The stated purpose of the survey is to measure whether SARS’ guidance on tax compliance is clear and certain in its interpretation.
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During a recent panel discussion at the 2021 South African Institute of Taxation (SAIT) Tax Indaba, crypto assets, and the taxation thereof, once again came up as a sensitive topic amongst industry professionals.
The Mauritius Revenue Authority issued a Statement of Practice on 24 August 2021 (SOP24/21) on the taxation of Mauritius trusts. We found it peculiar that many Mauritius advisors decided to not advise their clients of this important development.
Many South Africans work and live in Zambia because it is a favourable mining, construction, and agricultural African destination. Some of these South Africans have either temporarily or permanently made the move to Zambia without following the correct emigration procedures to mitigate their tax exposure in South Africa.
The most contentious proposal introduced by the 2021 Draft Tax Bills is arguably the tax on retirement interests when a person ceases tax residency. The proposed tax has widely been christened as a further “exit tax” imposed on South Africans leaving the country. However, based on responses by the Minister of Finance to a written […]
South Africa’s exchange control regime has relaxed considerably over the last few years, but the most recent amendments have created widespread confusion around the definition of non-residency for exchange control purposes.
Whether working abroad or still hunting for jobs overseas, the possibility of a financial emigration always hits centre stage at some point.