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South Africa - Tax changes in the employment and retirement space

04 March 2021 | Tax

There are a number of personal tax changes relating to employment and retirement, that were announced by Finance Minister Tito Mboweni (the Minister) in the National Budget Speech in February.

Positive Budget Speech, but poor revenues put high earners at risk

02 March 2021 | Tax

On 24 February, Finance Minister Tito Mboweni delivered South Africa’s 2021 National Budget speech. An upbeat Mboweni announced several tax measures, some providing relief for earners and others increasing the burden on consumers. Lurking in the background, though, was the shadow of an impending tax blitz.

Time for wealthy taxpayers to look offshore?

02 March 2021 | Tax

‘We owe a lot of people a lot of money.’ That blunt, ominous statement by Finance Minister Tito Mboweni in his 2021 budget speech shows the deep financial hole the South African economy is really in – and warning lights are starting to flicker for South Africa’s wealthy taxpayers.

The New Financial Emigration Announced by SARB

01 March 2021 | Tax

Financial emigration is the process used by many South Africans abroad to formalise their non-resident status for both tax and exchange control purposes, and which is set to be amended, as mentioned a year ago in Budget 2020, and come into effect on 1 March 2021.

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