South Africa's expat tax triggers exodus

South Africa is seeing a sharp rise in the number of people choosing to emigrate financially in order to cease their tax residency with the country and avoid the expat tax. South Africans living abroad now have to pay tax on anything above their first R1.25m made outside the country. The rest of their earnings - including all fringe benefits, like housing, education and flight allowances - will now be taxed according to the normal tax tables for the year, which can go up to 45% in some cases. "The loss of revenue as a result of South Africans ceasing residency means that the expat tax...