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2022 Tax Companion

Frequently Asked Questions (FAQs) about tax Tax season has come around again, and we have put together FAQs to help you through various stages during your tax return. These are our top 10 FAQs about income tax. Our clients are reminded that they can contact us for further…

Provided By Legal&Tax

by Johan Swart

Medium term budget adjustments

At the time that Minister Tito Mboweni delivered his budget speech in February 2020, the outlook was that the year ahead would bring its financial challenges and the proposed tax changes were going to be introduced bearing this in mind with the aim of improving tax …

Provided By Eversheds Sutherland

by Natalie Napier

Comprehensive guide now available to address expat tax

Where a foreign expatriate takes up employment in South Africa, the resultant tax consequences can be very complex and demand a deeper understanding of South...

by LexisNexis

The tax exemption for foreign employment income – SARS releases FAQ and Draft Interpretation Note

It has been widely publicised that on 1 March 2020, changes to the exemption for foreign employment income in s10(1)(o)(ii) of the Income Tax Act...

by Louis Botha

Foreign income tax exemption for South Africans employed overseas

Kicking the can down the rollercoaster: The tumultuous events and present stasis of the section 10(1)(o)(ii) amendment chronology This article explores the original proposal for amendments...

by Christiaan Harmse

Income Tax: What employees receiving foreign income should know

Employees might attempt to escape a tax liability on a portion of their income received in another country, however in a recent Court decision it...

by VDMA Attorneys

National Treasury reconsiders its repeal of the exemption on foreign earned employment income

In the 2017 Draft Taxation Laws Amendment Bill (TLAB) National Treasury (Treasury) proposed that the foreign employment income exemption contained in section 10(1)(o)(ii) of the...

by Mmueledi Monatisa

Heirs, immigrants, expatriates & investors take note: Period for administrative relief outside of the exchange control special voluntary disclosure programme extended

On 13 July 2016, the South African Reserve Bank’s (SARB) Financial Surveillance Department (FinSurv) issued Exchange Control Circular No. 6/2016 (First Circular). The First Circular...

by Louis Botha

Voluntary disclosure of undeclared foreign assets in offshore trusts

In the context of trusts situated in foreign participating jurisdictions, the Common Reporting Standards (“CRS”) require the trustees to identify the settlor, beneficiaries and other...

by Hannelie La Grange

SARS amendments to the trust income tax return for 2015

During the 2014 tax year, the South African Revenue Service (“SARS”) introduced a new income tax return for trusts (ITR12T) which was much more comprehensive...

by Jenny Klein