Any person who is considering leaving South Africa permanently should carefully take into account the tax implications of ceasing to be tax resident as well as consequences after departure.
Emigration for tax purposes could have immediate tax consequences with a possible liability for tax the day before the person breaks tax residency. These tax implications, which includes deeming provisions, are often misunderstood and missed which could result in penalties and interest.
Any person that may undertake regular visits to South Africa after emigration must also consider the tax residency tests in terms of local legislation.
Our tax services include the preparation and submission of tax returns, the calculation of any taxes that become due on emigration and obtaining tax clearance certificates, which are required before capital can be exported from South Africa.