What is Happening with Tax on Expats?
There can be no doubt that the all the hype around the proposed tax on South African expats has caused a fair amount of consternation. Let's take a look at Treasury's latest position.
The Tax Benefits of Bursaries/Scholarships for Employees
Want to know a great way to keep your employees happy?
Do We Need a Tax Calculator?
Have you ever wondered whether it is necessary to have a tax calculator?
Don’t dare mess with the tax ecosystem!
We’ve entered an era where disclosure of foreign income to the taxman, is trending. In 1776, Adam Smith a Scottish philosopher and economist, wrote An Inquiry into the Nature and Causes of the Wealth of Nations and stated that, “There is no art which one government sooner learns of another than that of draining money from the pockets of the people.” Over the past decade we’ve witnessed radical changes in tax legislation around the world, spearheaded by tax policy reforms and continued efforts to fight against international tax avoidance and evasion, orchestrated by the Organisation for Economic Co-operation and Development (OECD). Gone are the days where you could secretly move part of your savings or business profits into a cross-border account or tax-haven investment and not report it in your tax return. So, what are the implications of earning income offshore?
SARS’ lifestyle audits dig deep to find hidden assets
SARS has the power to gather information to ensure that taxpayers have complied with their fiscal obligations. Besides, SARS may require taxpayers to submit documentation in substantiation of the tax returns submitted or may conduct detailed audits on a taxpayer’s affairs by physically inspecting the taxpayer’s premises and carrying out an audit on site.