ALARM OVER GROWING BRAIN DRAIN FROM SA As emigration by skilled South Africans rises, experts in the auditing and insurance sectors have warned this will weaken the country’s skills base and reduce the pool of wealthy individuals, whose spending on goods and services support many businesses. READ MORE Authors Thomas Lobban Legal Manage: Cross-Border Taxation […]
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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
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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
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