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.
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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.
South African seafarers and yacht crew are of the view that they automatically qualify for the exemption of their foreign employment income earned for their services rendered aboard a ship or yacht.
As most know by now, SARS is grappling to increase revenue for their coffers, looking to South Africans who earn foreign income to subsidise the deficit. With all the uncertainty around the change in the foreign employment income exemption, which is coming into effect as of 1 March 2020, more and more people are wanting […]
Effective from 02 February 2020, various changes to the Schengen Visa will come into effect as approved by the European Commission in June 2019.
Thousands of South Africans will be impacted by new amendments to the Income Tax Act which will come into effect from 1 March 2020, says Nicolas Botha, a senior financial emigration specialist at Tax Consulting SA.
An amendment to the Income Tax Act will bring considerable change to the expat landscape as from March 1, 2020. Jean du Toit and Jonty Leon are the technical editors of the publication “Expatriate Tax – South African Citizens Working Abroad and Foreigners in South Africa”.
As a result of the amendment to the foreign income exemption, in the Income Tax Act, many South African seafarers and yacht crew are sailing close to the wind, often in an effort to find a means and reasons not to pay taxes in South Africa. One of the many reasons used by South African […]
With the effective date drawing closer, South African expatriates and their employers have little time to come to grips with the looming “expat tax” and how it will affect them when it comes into effect on 1 March 2020. Those who fail to understand this tax amendment that will bring considerable change to the South […]
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