Tax practitioners warn that South Africans who have moved their income offshore may face a rude awakening, as the South African Reserve Bank rolls out new rules requiring all cross‑border transfers of South African‑sourced income to be cleared by the South African Revenue Service before funds can leave the country. They also caution that relinquishing South African citizenship does not automatically release individuals from their tax obligations, as residency status and the source of income remain key factors in determining tax liability.


Thami Ngubeni spoke to Roxanna Naidoo, Head of Global Strategy at Latita Africa.

Tax practitioners warn that South Africans who have moved their income offshore may face a rude awakening, as the South African Reserve Bank rolls out new rules requiring all cross‑border transfers of South African‑sourced income to be cleared by the South African Revenue Service before funds can leave the country. They also caution that relinquishing South African citizenship does not automatically release individuals from their tax obligations, as residency status and the source of income remain key factors in determining tax liability.
 Thami Ngubeni spoke to Roxanna Naidoo, Head of Global Strategy at Latita Africa.

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.