National Treasury has responded to some of the key changes proposed in its Draft Tax Law Amendment Bill (TLAB) and Draft Tax Administration Laws Amendment Bill (Draft TALAB) – including questions around emigration and harsher punishments for taxpayers.
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South African expatriates who were unable to leave South Africa on account of the lockdown will be relieved to learn that the requirements of the foreign employment exemption (Section10(1)(o)(ii)) will be relaxed.
The time for South Africans who consider emigrating to learn their fate around their pensions is drawing closer.
Employment remuneration earned by South Africans working abroad, prior to March 2020, were fully exempted from South African taxation provided the tax payer spent more than 183 calendar days, of which 60 days are consecutive, outside of the republic over any 12 month period.
“Expats who follow shady advice to deregister as taxpayers with SARS will suffer in the long run,” says Jonty Leon, Legal Manager (Expatriate Tax) at Tax Consulting SA.
IS A CAREER IN YACHTING RIGHT FOR YOU? Long gone are the days of walking the dock, fresh out of school, and landing a job onboard a yacht.
The COVID-19 pandemic has impacted countries worldwide including the implementation of various measures such as international travel bans and “lockdown” to help curb the spread and ﬂatten the curve. Seafarers and superyacht crew working in Schengen countries have been adversely affected and have not been able to return for work purposes as all business and […]
With the first provisional tax payment being due on 31 August 2020, there is some confusion regarding whether expatriates are deemed to be provisional taxpayers by the South African Revenue Service (SARS) or not.
We have dealt with the financial and tax affairs of hundreds of South African seafarers and yachties over the years, many of which have left South Africa at a young age to begin a burgeoning careers on the high seas or are veterans that are envisaging retirement in South Africa.
A made-up story With all kinds of information regarding expatriate tax going around, seafarers and yachties (referred to jointly as seafarers hence forth) have been the ones who have been on the receiving end of the most confusing and contradicting guidance.
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