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South African expatriates who ignore their tax obligations will soon find themselves in hot water with SARS warns Jashwin Baijoo, legal manager at Tax…
Budget Law 2020 (amending Law 145/2018) provided for the entry into force – as of 1 January 2020 – of a digital services tax (DST). With Circular 3/E of 23 March 2021, the Italian Revenue Agency provided clarifications regarding DST, taking into account the implementation rules as set out in the provision of 15 January 2021.
MONEYWEB app instead? Should you financially emigrate? Image: Moneyweb The South African Revenue Service (Sars) has discovered R400 billion in offshore holdings owned by South Africans and is on the rampage to collect all taxes that it is owed on these assets. This means that South Africans who are currently working abroad need to particularly take note and ensure that they are compliant with all of Sarsâs tax requirements. Sars has also become more stringent in terms of collecting taxes from wealthy South Africans, who are trying their level best to avoid their local tax obligations. ...
Introduction The introduction of the US Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) has established a new standard for the automatic exchange of information (AEOI) in tax matters and led to a high level of tax transparency. These two complex and comprehensive instruments are an effective way to combat tax evasion on a global basis. Due to the recent increase in the use of innovative financial products, the Organisation for Economic Cooperation and Development (OECD) announced that the CRS will be expanded in 2021 to cover cryptoassets and virtual currenc...