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Is the proposed tax on retirement interests an ‘exit tax’?

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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'.

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