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Tag: Common Reporting Standards (CRS)

Avoid tax wolves in sheep’s clothing: things to look out for

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Post-COVID-19 economic resurgence saw an increase in international work opportunities. With skills in hand, many South African professionals have become sought-after in other countries. As a result, their finances and subsequent taxation have come under scrutiny. However, along with the awareness of tax complications, another threat has emerged.

Are offshore bank, investment and trust accounts still allowed?

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Unpacking the enigma around offshore starts with one simple certainty; nothing in the South African Income Tax or Reserve Bank regulations prohibits South Africans from opening a bank account, investment account or setting up an offshore trust.

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