EXPATRIATE TAX 2020 UPDATE: SOUTH AFRICA AND THE UK
SPECIAL INVITATION FROM THE SOUTH AFRICAN CHAMBER OF COMMERCE (UK) IN ASSOCIATION WITH TAXCONSULTING SOUTH AFRICA
The South African Chamber of Commerce (“SACC”) in the United Kingdom is pleased to announce that it has secured a presentation by Jerry Botha, from Tax Consulting South Africa (“TCSA”), on the new expatriate tax law change promulgated under South African law effective 01 March 2020. This is hot off the heels of the sold-out events held in Mauritius and South Africa, which were hosted by SACC in Mauritius and the British Chamber of Business in Southern Africa respectively, on which excellent attendance feedback was received.
Jerry’s presentation will share deep and practical insights with attendees, dealing with some hot topics such as whether to retain South African citizenship, permanent residency and the burning question of financial emigration, with SARS recently providing more clarity thereon. It will also outline planning and strategy if you intend to return to and/or retire in South Africa. The presentation format will be informal and due to complexity and importance of these matters, it will be approximately 45 minutes. Jerry will be available afterwards for an extensive Q&A session for those who need more detailed information.
He will be joined by Marisa Jacobs, who heads-up the largest independent work permit practice in South Africa, dealing with matters ranging from the largest critical skills survey in South Africa, passport renewal, retention of South Africa citizenship etc.
KEY AREAS OF THE PRESENTATION:
The submission to Parliament in 2017 on behalf of South Africa expatriates, the amended tax law and planning;
Strategies for future dealing with South African assets, investments, family remaining and returning and / or retiring to South Africa;
South Africa / United Kingdom Double Tax Agreement – planning and compliance;
Inheritances from family in South Africa, donations’ tax, forex and exchange control planning for inward and outward remittances;
Strategies for doing business into South Africa, including caveats on South African rental properties and income;
LexisNexis guide on Expatriate Tax; and
Dealing with concerns surrounding South African citizenship, residency and retaining of your South African passport.
Managing Partner at Tax Consulting South Africa
Jerry Botha was the tax technical advisor to the Expatriate Petition Group, who argued against the complete repeal of the expatriate tax exemption in Parliament, resulting in a partial win with the R1m threshold introduction in 2017. TCSA is the largest fully independent tax practice in South Africa with over 90 talented professionals, with their tax technical expertise and ongoing relationship with the expatriate community resulting in the firm being approach by LexisNexis to author the first ever publication on Expatriate Tax.
The publication titled, Expatriate Tax: South Africans Citizens Working Abroad and Foreigners in South Africa, was released in October 2019 and is described by Judge DM Davis, Chairman of the Davis Tax Committee, as “a carefully considered book … dealing with the various tax implications of immigration/emigration … and will doubtless be essential reading…”.
Their professionals deal with all areas of South African taxation including rebutting overly conservative external audit findings, SARS rulings, SARS disputes and litigation, SARS refunds and holding SARS to account for interest on delayed refunds, tax due diligences, Voluntary Disclosure Programme applications, fixing heritage tax matters left in disarray by previous tax advisors, as well as the normal consulting and compliance services on corporate taxes, executive and employee taxes, high net worth families and businesses, international expansion or foreign groups into South Africa, VAT, customs and excise, and tax administrative law.