International income tax: The South African perspective e-book
by Errol Danziger
Taxation may involve payments to a minimum of two different levels of government: central government through SARS or to local government. Prior to 2001 the South African tax system was "source-based", wherein income is taxed in the country.
Taxation may involve payments to a minimum of two different levels of government: central government through SARS or to local government. Prior to 2001 the South African tax system was "source-based", wherein income is taxed in the country where it originates. Since January 2001, the tax system was changed to "residence-based" wherein taxpayers residing in South Africa are taxed on their income irrespective of its source. Non residents are only subject to domestic taxes.
From a South African perspective, this article investigates the legality of some factors that lure taxpayers into investing in offshore trusts for tax avoidance purposes. The consequential income tax pitfalls that unwary taxpayers often fall into are then discussed. The analysis entails a discussion of effectiveness of the anti-tax avoidance legislation that South Africa has in place to counteract the ensuing tax avoidance, and it provides some recommendations as to how this legislation can be enhanced. Do you want to read the rest of this article? Request full-text.
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International Standard Book Number (ISBN): 0409105058. Publication, Distribution, et. Durban. Butterworths, (c)1991. Physical Description: xviii, 428 p. ;, 24 cm. System Control Number: ocm26947608. System Control Number: MAHL92B4147. Bibliography, etc.
This essay briefly presents perspectives on certain structural features of the South African income tax system. Given that the unemployment rate among South Africa's non-White population exceeds the unemployment rate in the United States during the Depression, it is crucial that South Africa adopt tax and other policies that will lead it to higher economic growth.
South African tax system for foreigners. There is no tax on international pensions in South Africa
South African tax system for foreigners. Foreign residents pay the same income tax in South Africa as local citizens. However, those classed as non-resident taxpayers are only taxed on income earned in South Africa and not worldwide. There is no tax on international pensions in South Africa. However, those retiring to South Africa who are receiving a South African pension will be liable to pay tax on annual earnings above R116,500, and at least 18% tax on lump sum payments above ZAR 500,000.
Foreign income is, by default, taxable income as South Africans are taxed on their worldwide income, subject to certain unilateral .
Foreign income is, by default, taxable income as South Africans are taxed on their worldwide income, subject to certain unilateral exemptions and some double treaty exemptions. Knowledge in this regard may save a person some hard-earned tax money. Breytenbachs Advisory has subsequently drafted some guidelines in this regard. 183/60 Tax Exemption. One of the most important tax exemptions for South Africans working overseas is the so-called 183/60 Tax Exemption. This income exemption can be from sources in SA, .
John Dugard is a professor of international law at the University of Leiden and a professor at the center for human rights at the University of Pretoria. He is a judge ad hoc of the International Court of Justice, a member of the Institute of International Law, and an honorary member of the American Society of International Law.
Amended by Income Tax Act 28 of 1997. Amended by General Law Amendment Act 49 of 1996: S 10-11, 21, 36, 91. - Amended by Revenue Laws Amendment Act 58 of 1962: S 10, 12-13, 37, 64, 74-75. Amended by Legal Succession to the South African Transport Services Act 9 of 1989: S 9-11, 20. - Amended by Income Tax Amendment Act 99 of 1988: S 1. - Amended by Income Tax Act 90 of 1988: S 1, 5-8, 10-13, 18, 20-21, 24, 27-28, 54-57, 60-61, 64, 67, Sch 1, 4, 7.