2023 Budget Speech – Tax Relief, or Reckoning?
With the 2023 Annual Budget Speech around the corner, Commissioner of the South African Revenue Service (“SARS”), Edward Kieswetter, has been quite vocal in stating there will be no increase in current tax rates, nor the imposition of any further taxes, including a “wealth tax” as alluded to in last year’s address.
No Endgame: SARS Stalemates Taxpayers Ceasing Tax Residency
There may be a strange game of chess being played with taxpayers who are trying to cease their South African tax residency, with the result of keeping them “trapped” as tax residents for no legitimate reason.
South Africa Welcomes Foreign Property Investment Despite Widespread Global Restrictions
In the midst of growing international restrictions on foreign property investors, South Africa remains a welcoming haven to these buyers.
Non-Compliant Advisors to Join Clients Behind Bars
A word of warning to all “finance professionals”, including tax practitioners, accountants, and specialist attorneys – Professional Indemnity Insurance can only cover you to a certain extent, and that does not include evading jail-time should the South African Revenue Service (“SARS”) deem fit.
SARS Focuses on International Tax with 52 Fresh Vacancies Ahead of Budget Speech
In the lead up to South Africa’s budget speech in February 2023, the South African Revenue Service (SARS) has announced the addition of 52 new vacancies to its staff. The positions listed all hint to new changes which may affect expats living and working outside of South Africa. Whilst this is a seemingly positive development […]