South Africans in Guernsey, Jersey and the Isle of Man are low-hanging fruit for Sars

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[ICYMI] Expats who have not formally ceased their tax residency with sarstax are legally obligated to declare and pay tax on their worldwide income. Moneyweb Tax

None of these jurisdictions have a tax treaty with South Africa, meaning expats who have not formally ceased their tax residency with Sars are legally obligated to declare and pay tax on their worldwide income. The net is closing Over the last five years, Sars has enjoyed major upgrades to its capability to detect, trace and prosecute non-compliant taxpayers abroad.

There are three methods to cease South African tax residency: Only the last option is available to expatriates based in Guernsey, Jersey or the Isle of Man. If you have not completed this process, you are most likely still a tax resident on Sars’ system. The risk of being caught Expatriates who follow the financial emigration process, and succeed in their application, can rest assured that their foreign earnings are protected from Sars.

 

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