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The Isle of Man hosts 800 South Africans - Boasting as popular relocation destination

The Isle of Man hosts 800 South Africans - Boasting as popular relocation destination
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FAQ: What can you do if you need tax relief from SARS?

It’s called the Voluntary Disclosure Program (VDP) and here’s what you can do if you need tax relief from SARS. ....

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Industry Event for Tax Professionals Sheds Light on SARS TCS Process Changes

There have been mixed views in the media since the South African Revenue Service (SARS) announced its “enhancements” to the Tax Compliance Status (TCS) process on 24 April 2023. Tax Consulting South Africa has since been approached by several SARS-recognised professional bodies to provide clarity on these changes through member specialist training. The first session with the South African Institute of Taxation (SAIT), held on 23 May 2023, provided unique insight to the new process, SARS’ strategic intent, and the views of tax professionals. ....

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Sars' new process for emigration and foreign investment allowance

The South African Revenue Service (“Sars”) introduced the new Approval for International Transfer (“AIT”) process on 24 April 2023, which requires a significant change in disclosure for South Africans taking money abroad. The AIT process applies to both South African tax residents exercising their Foreign Investment Allowance for above R1-million transfers, as well as for financial emigration, which is now one combined Sars process. This was described by Sars in their 24 April 2023 Media Release as to “facilitate the consolidation … into a single application”. ....

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HR & Payroll Can Debunk Tax Myths with Training

Most employees do not understand the complex tax calculations the payroll team applies to their monthly earnings and often inundate them and Human Resources with questions about their deductions. The many tax myths shared by and amongst employees and professionals alike only fuel these misunderstandings and misconceptions, leaving employees in the dark. However, with a little professional tax training, HR and payroll professionals can guide staff members through this process effectively. ....

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