South Africans living abroad to be hit with 'expat tax'

Pedro Gonçalves
clock • 1 min read

South Africans working abroad will face higher taxes as they will only be exempt from paying tax on the first R1m they earn elsewhere under the amendments to the Income Tax Act which are due to come into effect from March. The country's Treasury said that additional tax measures were under consideration to raise an extra R10 billion in fiscal 2021. "Given the fiscal position we find ourselves in, all tax options need to be on the table," said Chris Axelson, chief director for economic tax analysis in the Treasury." Under the changes, the totality of an expat's income earned abroad wou...

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