Tag: OffshoreTransfers
Offshore transfer limits may double without SARS pre-approval
The amount South African residents can send offshore without South African Revenue Service (SARS) clearance has remained unchanged since 2011. However, that is about to change. On 25 February, Finance Minister Enoch Godongwana announced that the Single Discretionary Allowance (SDA) will increase from R1 million to R2 million per person each calendar year.
