The Close Of The 2021 Filing Season – Don’t Be Caught Off Guard
The current tax filing season is almost at an end. Many taxpayers have submitted their annual return to the South African Revenue Service (“SARS”), while others are scampering to submit their returns before the 23 November 2021 deadline.
Government Withdraws Proposal To Impose Exit Tax On Retirement Interests
Expatriates and those with plans to emigrate will be relieved to learn that the proposal to impose an exit tax on retirement interests will be withdrawn.
SARS And National Treasury Have Gone Quiet On Expats. What’s Brewing?
National Treasury’s latest published Draft Tax Bills incorporated the contentious additional “exit tax”, which proposed to tax retirement fund interests of individuals when they cease South African tax residency.
Zero Hour: Expat Tax Returns Due This Filing Season
The past two years have been a journey into unchartered waters for all, and a particularly tense time as far as South African expatriates are concerned. For many expats, more and more questions have been left unanswered as this filing season, and the tax filing period draws to a close on 23 November.
Criminal Proceedings Against Non-Compliant Taxpayers Are Alive And Well
In recent weeks we have seen first-hand the powers of SARS in holding taxpayers criminally liable where their tax affairs are not in order. What is important to note is that SARS has always had the authority through legislation to institute criminal proceedings against non-compliant taxpayers.