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Positive Budget Speech, but poor revenuesput high earners at risk
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On 24 February, Finance Minister
Tito Mboweni delivered South Africa’s 2021 National Budget speech. An upbeat Mboweni announced several tax measures, some providing relief for earners and others increasing the burden on consumers. Lurking in the background, though, was the shadow of an impending tax blitz.
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Rotational Workers and Provisional Taxes – Everything You Need to Know
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As 28 February 2021 looms near on the horizon, so too does the deadline for the second provisional tax submissions for 2021. This February will be the most important tax submission to date for expatriates earning above the R1.25-million threshold as they will now be exposed to a previously non-existent tax liability in South Africa.