Mauritius Revenue Authority Declares That Foreign Trusts Are No Longer Exempt From Paying Tax
Recently the Mauritius Revenue Authority (“MRA”) announced by way of a Statement of Practice (“SOP”) that foreign trusts held in Mauritius will no longer be exempt from income taxes.
Policy Withdrawals After Financial Emigration – SARS’ Current Challenges
There are many reasons why South African tax residents undertake to cease tax residency through the financial emigration process. One of the reasons is that a successful financial emigration provides one with the rare opportunity to fully encash your policy funds.
Criminality Of Non-Compliance – SARS Makes Good On Its Word
After having been alluded to for months by SARS Commissioner Edward Kieswetter and being re-emphasized in his media statement of early August, following the recent lootings, SARS will still chase after those taxpayers who are non-compliant.
SARS’ Role In The Criminal Justice System
SARS is mandated through legislation to conduct a criminal investigation if it suspects tax fraud. Once it has been finalised, they register a formal complaint with the South African Police Services.
Is SARS Doing Selective Prosecution Of Tax Offenders?
On numerous occasions, the South African Revenue Service (SARS) has warned that they will be taking on South African taxpayers who have been non-compliant.