Tag: exit charge
Is the proposed tax on retirement interests an ‘exit tax’?
The most contentious proposal introduced by the 2021 Draft Tax Bills is arguably the tax on retirement interests when a person ceases tax residency. The proposed tax has widely been christened as a further 'exit tax' imposed on South Africans leaving the country. However, based on responses by the Minister of Finance to a written parliamentary Q&A, some have questioned whether the proposal can rightfully be classified as an 'exit tax'.
