South Africa's taxpayers are leaving in droves, but should expect changes in 2022, says expert
It is looking increasingly likely that government will consider new measures for South Africans leaving the tax net in 2022.
Source: businesstech.co.za
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Withdrawal of exit tax confirmed as President signs tax Bills into law
The President has given effect to the 2021 tax proposals by signing the relevant tax Acts into law. With the promulgation of the Taxation Laws Amendment Act No. 20 of 2021 (“TLAA”), Government’s promise to scrap the exit tax on retirement interests has been confirmed, at least for now. The 2021 Draft Tax Bills were published in July last year, which tabled the proposal to tax the retirement interests of South Africans ceasing tax residency. The reason for the proposed tax was that certain tax treaties restrict SARS’ right to tax retirement interests of South Africans on...
Source: polity.org.za