Guide to Determining Tax Residency in South Africa Introduction Determining your tax residency status is a critical first step in understanding your obligations to the South African Revenue Service (SARS). Whether you’re a South African living abroad, a foreigner working in SA, or someone with cross-border ties, your residency status dictates whether you’re taxed on…
Managing your tax affairs can sometimes feel overwhelming, which is why many individuals and businesses choose to work with a tax practitioner. However, how you grant access to your tax practitioner is crucial. Instead of giving them full control over your SARS eFiling profile, a safer and more efficient option is to share your profile…
Introduction Transfer pricing (TP) is a key aspect of international taxation that affects businesses of all sizes, including small and medium-sized enterprises (SMEs). For SMEs engaged in cross-border transactions, understanding and adhering to TP regulations is vital to maintaining smooth operations and avoiding potential financial and legal challenges. This article highlights the importance of TP…
In the intricate world of taxation and business dealings, the term “connected person” holds significant weight. Across various tax systems globally, the connection between entities involved in transactions often dictates the application of anti-avoidance legislation. While some jurisdictions refer to them as “related parties,” in South Africa, they are known as “connected persons.” This classification…
Living abroad offers exciting opportunities for personal and professional growth. However, amidst the adventure and new experiences, it’s crucial not to overlook the matter of taxes. For South African citizens, understanding how tax residency works can significantly impact their financial obligations and planning. Tax residency determines how much tax an individual owes and to which…