The days of earning your pounds, euros, dollars or dirhams without the taxman taking its portion is possibly shortly a thing of the past. The South African Revenue Service (SARS) is planning on imposing additional tax in South Africa on South Africans working abroad and earning a tax-free or low tax income.
SARS wants to amend Section 10(1)(o)(ii) of the Income Tax Act, 1962 (Act No. 58 of 1962), which determines that citizens working abroad are remitted from paying tax, in order to generate more income for the revenue office and the state. If you are categorised within South Africa’s highest tax scale of 45%, but are already paying tax on 20% of your salary, SARS wants to recover the outstanding 25% from you as from 1 March 2019.
Give AfriBusiness your mandate to oppose this amendment of the Income Tax Act by signing the petition below. The closing date for public commentary is 18 August 2017. AfriBusiness will soon release their Commentary on this Act amendment.
