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Many assume that simply relocating makes them a non-resident for South African tax purposes, but this is not the case.  

The South African Revenue Service (“SARS”) requires a formal process to cease tax residency, and confusion around the three-year rule, five-year rule, and day-count tests can result in costly penalties. 

Take control of your tax status and protect your foreign income. By formally ending your South African tax residency and using backdated applications, if necessary, you can prevent penalties, remain compliant, and safeguard the income you earn abroad. 

Click the link to learn how to correctly cease your South African tax residency: https://bit.ly/4rDr5tW

Topics Discussed: 

00:00 – Intro  

01:17 – Importance of Knowing Your Tax Status 

03:17 – Distinction Between Non-Residency and Deregistration 

06:07 – Ceasing Tax Residency: Myths Debunked 

10:02 – Steps towards correcting past non-compliance through backdated financial emigration. 

12:27 – Importance of Timely Action and Offshore Assets 

17:02 – Third-Party Reporting and Global Information Exchange 

#CeaseTaxResidency #SATaxResidencyRules #HiddenTaxRisks

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