Tax Consulting South Africa is pleased to announce that our Expat Tax 2020 event is returning to Dubai on Monday 9 March 2020 due to popular demand. The event will feature a presentation by Jonty Leon (Co-Author of the LexisNexis Expatriate Tax textbook) on the new expatriate tax law change promulgated under South African law effective 1 March 2020. This is hot off the heels of the sold-out events held in Mauritius, South Africa, UK, UAE and Qatar on which excellent attendance feedback was received.

The presentation will share deep and practical insights with attendees, dealing with some hot topics such as whether to retain South African citizenship, permanent residency and the burning question of financial emigration, with SARS recently providing more clarity thereon. It will also outline planning and strategy if you intend to return to and/or retire in South Africa. The presentation format will be informal and due to complexity and importance of these matters, it will be approximately 1 hour. Jonty will be available afterwards for an extensive Q&A session for those who need more detailed information.

There will also be a short presentation from Xpatweb, which is the largest independent work permit practice in South Africa, dealing with matters ranging from the largest critical skills survey in South Africa, passport renewal, and retention of South Africa citizenship. Donne Trump (Seafarer Compliance Expert at Seafarers Global) will also address how the expariate tax law will affect South African seafarers and yacht crew. Nicolas Botha (Senior Financial Emigration Specialist at Financial Emigration) and Dylan Price (Expatriate Engagement Specialist at Tax Consulting South Africa) will also be in attendance.

KEY AREAS OF THE PRESENTATION:

• Dealing with the fundamentals of international tax vs. South African tax and the principle that South Africans must always have a tax protection strategy;
• The history to the expatriate tax law change and the not widely reported primary motivations for the expat tax law change;
• The submission to Parliament in 2017 on behalf of South Africa expatriates, why the R1m exemption was allowed, the amended tax law and the remaining technical concerns not addressed by National Treasury and SARS;
• Financial Emigration – when is this viable and when not, criticism and opportunity;
• South Africa / Dubai Double Tax Agreement – when is this viable and when not, risks and opportunity;
• Planning considerations where Financial Emigration and / or Double Tax Agreement relief not possible, including compliance strategy;
• Retirement in South Africa, tax risks associated with ‘end of service’ gratuity and other lump sums, tax considerations for continued South African investments especially into retirement vehicles, rental properties SARS audit approach etc.;
• Inheritances from or to family in South Africa, donations’ tax, forex and exchange control planning for inward and outward remittances;
• Common Reporting Standards, criminal offences standards, optimal tax planning and caveat against various tax ‘schemes’ being punted; and
• LexisNexis guide on Expatriate Tax.
• Exemptions that apply to Seafarers and Yacht Crew.

For more information or questions, please contact Dr Dylan Price on dylan@taxconsulting.co.za.

We look forward to seeing you there!