Tag: Common Reporting Standards (CRS)
Avoid tax wolves in sheep’s clothing: things to look out for
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?
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.
