HW&Co., a regional CPA and advisory firm with offices in Cleveland, Columbus and Mansfield, merged in ECS Billing & Consulting South, Inc., dba ECS Solutions, a provider of billing, revenue
Invested offshore to dodge the taxman? Sars is coming for you
6 January 2021 7:47 PM
Share This: With the notice we ve seen, Sars asks for information regarding tax years from 2015 to 2019 - tax attorney Jean du Toit.
One route to avoid taxation has traditionally been to take your money offshore, without disclosure.
Now the South African Revenue Service has offshore investors on its radar.
Sars is finally ready to utilise the Automatic Exchange of Information to investigate South African tax residents offshore holdings, says tax attorney Jean du Toit.
Some taxpayers have already received notices to this effect.
If you are a South African tax resident you are subject to taxation on your worldwide income and you are required to disclose that to Sars.