Voluntary Compliance Encouraged By SARS
In a media statement dated 30 November 2022, the South African Revenue Service (“SARS”) stated that they are encouraging all taxpayers who may be in default on their tax affairs to approach SARS via the Voluntary Disclosure Programme (“VDP”). By coming forward willingly, said taxpayers will receive the help and advice from SARS to expedite […]
SARS’ Sherlock Holmes Approach to Foreign Income
The number of South Africans earning income abroad has continuously been on the rise. The majority percentage of the South African Revenue Service’s (SARS) tax collections have also consistently been from personal income. These two factors combined, in the context of our residency-based tax system, has massively piqued the interest of our revenue service in […]
Flying towards a tax saving – Double Tax Agreement or Financial Emigration?
Having visited over 12 international locations in 2022, and engaging with South African expatriates, we can attest to a recent report issued by the United Nations which found that around 900 000 South Africans are already living and working overseas – and indeed, this may well be an understatement.
Performing A Tax Diagnostic Does Not Trigger A Reaction From SARS
What is a Tax Diagnostic Report? A tax diagnostic can be thought of as a thorough examination of your historic tax matters on your SARS profile that will give a comprehensive overview of your tax standing, history and current state of tax compliance. This is the framework in which a qualified tax advisor analyzes your […]
Grim Warning For South Africans – Disclose Your Defaults Before SARS Comes Knocking
Long gone are the days when tax fraudsters could run circles around the South African Revenue Service (“SARS”). Recently, SARS has intensified its efforts to crack-down on tax evasion, by pursuing criminal action against non-compliant taxpayers.