for subscribers

Treasury set to tighten tax noose on expat workers

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Cape Town – There are clearly many South African tax residents who earn money abroad and are not declaring that income to the South African Revenue Service (SARS), National Treasury said on Tuesday.

In a presentation given to Parliament’s standing committee on finance, Treasury elaborated on its proposal to repeal an exemption that creates the opportunity for South Africans who work abroad to not pay tax at all.

Since 2001 South Africa has extended coverage of the Double Tax Agreements (DTAs), which assigns taxing rights to “source” and “residence” jurisdictions and eliminates double taxation.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.04
(-0.38)
ZAR/GBP
21.81
(-0.11)
ZAR/EUR
19.90
(-0.12)
ZAR/AUD
12.03
(-0.12)
ZAR/JPY
0.16
(-1.12)
Gold
1860.65
(+0.03)
Silver
22.87
(+0.11)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1367 votes
It depends on how the funds are used.
73% - 8849 votes
No. We should have gotten the loan elsewhere.
16% - 1956 votes
Vote