Expat Tax Is Coming…

An amendment to the SA Income Tax Act becomes effective in March 2020, and has hard-hitting consequences for South Africans working outside SA.

It requires that SA tax residents spending more than 183 days abroad (of which 60 days are consecutive) pay SA tax of up to 45% of their foreign employment income once it exceeds R1 million per annum. And, although this threshold may seem generous, employment income for this purpose includes allowances and fringe benefits like the provision of housing, security and flights, among other things. It is also likely that pension contributions will be included in the threshold.


Read full article here.

Share this story

Follow us

Sovereign Trust (Gibraltar) Limited
Tel: +350 200 76173