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The Importance Of An Exit Roadmap And Financial Strategy When Emigrating

THE IMPORTANCE OF AN EXIT ROADMAP AND FINANCIAL STRATEGY WHEN EMIGRATING​ With the ongoing global skills shortage and South Africans being highly sort after, many individuals are choosing to Financially Emigrate with the aim of starting a life abroad. However, this decision should not be taken lightly and requires a well thought-out road map and […]

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SARS’ Sherlock Holmes Approach to Foreign Income

SARS’ Sherlock Holmes Approach to Foreign Income

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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Flying Towards A Tax Saving_Double Tax Agreement Or Financial Emigration

Flying Towards A Tax Saving_Double Tax Agreement Or Financial Emigration

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

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SARS’ Smoking Gun? Estimated Tax Assessments through Lifestyle Audits

SARS’ Smoking Gun? Estimated Tax Assessments through Lifestyle Audits

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

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Non-Resident Tax Status Reversed? Read This Before Reapplying To SARS

Non-Resident Tax Status Reversed? Read This Before Reapplying To SARS

NON-RESIDENT TAX STATUS REVERSED? READ THIS BEFORE REAPPLYING TO SARS SARS introduced its Tax Non-Resident Confirmation letter in 2021, and it now appears that emigrated taxpayers, whose residency status was previously disclosed to SARS as non-resident, are now finding their status has been reset to ‘resident’. This may possibly have been due to a bug,

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Momentous Wealth Taxation Event Lifts Veil On Offshore Structures

Momentous Wealth Taxation Event Lifts Veil On Offshore Structures

MOMENTOUS WEALTH TAXATION EVENT LIFTS VEIL ON OFFSHORE STRUCTURES A momentous event, held on 22 August 2022, drew a massive audience, comprising many well-known high net worth VIPs, senior SARS officials and officials from other African Revenue Authorities, tax heads in various capacities, top wealth managers, academics and other notable attendees. READ MORE Hosted by

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