A Major Controversy Over Foreign Currency in SA

A Major Controversy Over Foreign Currency in SA The National Treasury has proposed new tax legislation affecting overseas firms and remote workers, which experts say will cause more harm than benefit. According to Tax Consulting SA, if proposed changes to the Employee's Tax Schedule of Income Tax are implemented, foreign employers will be required to [...]

New emigration tax laws may backfire

New emigration tax laws may backfire on SARS, according to experts. The South African Revenue Service's (SARS) new administrative regulations for South Africans shifting money offshore may bite back. SARS surprised several industry participants in April 2023 by implementing the Approval International Transfer (AIT), which changes the administrative requirements for emigrating for tax purposes and [...]