Over 50,000 South Africans Have Left the Tax System: What You Need to Know We break down the shocking statistics from SARS showing that over 51,500 taxpayers have ceased to be South African tax residents between 2017. We explain the difference between losing tax residency and citizenship, discuss how this is affecting the country's tax revenue (with one cohort showing a 75% drop in taxable income), and share important guidance on properly updating your tax status with SARS whether you're leaving
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Moving abroad is easy. Leaving SARS behind is not. Many South Africans abroad are surprised to learn that without a formal application to cease tax residency through financial emigration or a Double Tax Agreement, SARS would still see them as fully taxable back home. For real peace of mind and full control of your income abroad, contact us today and let us guide you through it with clarity and confidence: https://bit.ly/4qvnyw3 #TaxConsultingSA #FinancialEmigration #SouthAfricansAbroad #TaxResid
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