Outbound Investments – Plan B For South African Residents
The market trend of wealthy / affluent individuals departing South Africa, through financial emigration or opting to either invest offshore has become increasingly common. This usually takes planning, and structuring of affairs and asset management, which is done by means of an emigration roadmap, prepped well in advance, to be used on a rainy day.
SARS Ups The Ante On Expatriates Trying To Cease Their Tax Residency
SARS has started to make good on its promise in the 2020 Budget Review by enhancing their verification and audit processes to accurately review the compliance and tax statuses of South Africans abroad.
Delayed VAT Refunds from SARS? Legal Recourse Available to Businesses
Given the number of fraudsters and chance-takers in today’s market, hesitancy on the part of the South African Revenue Service (“SARS”) is present and well-understood. Rather than simply handing out refunds to every VAT claimant without careful scrutiny, the SARS official appointed to the matter is obligated to correctly apply the law, even though it […]
A Hail Mary For The Cash Constrained Taxpayer
With inflation levels at their highest since 2009, coupled with rising interest rates in South Africa, cash strapped consumers are scrambling to find means to curb their debt woes.
SARS’ Smoking Gun? Estimated Tax Assessments through Lifestyle Audits
Lifestyle audits were initiated by SARS back in 2007, however actual action earnestly began only a few years ago with the arrival of SARS Commissioner Edward Kieswetter. These audits are conducted when SARS suspects that the taxpayer is not declaring all his or her income and thus is underpaying the factual tax due.