March is ‘D-Day’ for emigrating South Africans and expats

The Draft Tax Law Amendment Bill (TLAB), published by National Treasury at the end of July, contains a number of proposed changes will have an impact on South African taxpayers, says Thomas Lobban, tax associate at Tax Consulting South Africa.

One proposed amendment that has stood out is the disallowance of South Africans who have exited South Africa’s tax base from withdrawing their retirement funds from the country until they are able to prove that they have been non-resident for tax purposes for an unbroken period of at least three years, he said.

“This is a drastic shift from the…

Source link

About Author: ACM
This information is 3rd party content that is added to ACM strictly for non-commercial informational purposes. Information is the Key to Set the Black Mind Free