Warning over new expat tax changes for South Africa
Subscribe
South Africans living or working abroad can no longer avoid the long arm of the South African Revenue Service (SARS), says Jonty Leon, legal manager at Tax Consulting SA.
Under pressure to meet its revenue quotas, Leon said that the tax authority has started auditing the country’s non-compliant expatriates in earnest.
“We have been warning expatriates that this was coming and now that it’s here, the time for hiding one’s head in the sand is over,” he said.
He advises those intending to relocate to another country to follow the formal exit procedures and, most importantly, ensure their tax affairs are in order beforehand.
SARS is aware of your offshore assets
Search Polity
Note: Search is limited to the most recent 250 articles. To access earlier articles, click Advanced Search and set an earlier date range.
To search for a term containing the & symbol, click Advanced Search and use the search headings and/or in first paragraph options.
With.
Clear Search
Sponsored by
Sponsored by
The days where SARS shuts its eyes to taxpayers’ offshore holdings are thing of the past. SARS is finally utilising the Automatic Exchange of Information regime to pin down taxpayers who have not disclosed their offshore interests and numerous taxpayers have already received some alarming notices to this effect.