FRESH OFF THE PRESS | LEXISNEXIS
“THIS IS A CAREFULLY CONSIDERED BOOK WHICH NOT ONLY DEALS WITH ALL THE VARIOUS TAX IMPLICATIONS OF IMMIGRATION/EMIGRATION BUT EVEN HAS SPACE FOR A USEFUL CHAPTER ON WORK PERMITS.”
JUDGE DENNIS M DAVIS
Ph.D. & Hon. Professor of Law
Chairman Davis Tax Committee
Judge President, Competition Appeal Court
THE FIRST OF ITS KIND IN SOUTH AFRICA
Effective from 1 March 2020, the new legislative amendment states that South African tax residents abroad will be required to pay tax to South Africa of up to 45% of their foreign employment income, where it exceeds the R1m threshold.
Potentially affected tax residents are facing a plethora of misguided and inaccurate information when it comes to the correct application of the law. However, with the effective date drawing closer, it is crucial that South African expatriates as well as their employers come to grips with the looming “expat tax” and how it will affect them, in order to prevent potentially dire tax consequences, come March 2020.
This is where the controversy starts: How does one impose proper planning to attenuate the impact of #ExpatTax2020? The newly released title, Expatriate Tax: South African Citizens Working Abroad and Foreigners in South Africa, tackles common misconceptions and unpacks the resultant tax consequences of individuals or international employees with interests in multiple jurisdictions.
The first of its kind in South Africa, the title addresses the complexities of expatriate taxes from a South African perspective in a manner that speaks to both the tax specialist and the concerned taxpayer. Expatriate Tax provides a comprehensive, technical and practical guide to South African tax and deals with aspects of international mobility, including work visa strategies, citizenship, retirement funding, international remuneration, international share schemes, and exchange control considerations. A must have for international taxpayers, expatriates, specialist tax advisors, tax managers, financial planners, tax lecturers and scholars of tax, human resource professionals, attorneys, chartered accountants and many others.
The publication has been described by Judge DM Davis, one of the foremost experts on tax in South Africa, as “a carefully considered book which not only deals with all the various tax implications of immigration/emigration but even has space for a useful chapter on work permits.”
MORE ABOUT THE BOOK
FOREWORD OF JUDGE DAVIS
“The problems of emigration, migration (that is leaving for a specific period) or immigration raise the full panoply of tax questions; that is they demand recourse to many of the key areas of tax.”
Judge DM Davis
Tax Consulting South Africa had humble beginnings back in August 2005 when it was founded by Jerry Botha and Maritza Botha (née Prinsloo). The firm has now developed into the largest fully independent specialist tax practice in South Africa with over 80 professionals, serving clients across the world from offices in Johannesburg and George.
The textbook provides a comprehensive, technical and practical guide to South African tax and deals with aspects of international mobility, including work visa strategies, citizenship, retirement funding, international remuneration, international share schemes, and exchange control considerations.
PRACTICAL GUIDE ON WORK PERMITS
The ability to work in South Africa legally requires that an inbound expatriate has the correct work visa and/or residency permits and for these reasons, chapter 14 highlights some of the fundamental principles surround citizenship, permanent residency permits and work visas.
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