First million tax free, concedes South Africa

First million tax free, concedes South AfricaLock icon

Plans to scrap a tax exemption on overseas earnings have been watered down by the South African Treasury and a tax-free allowance of ZAR1m (£57,143, $76,003, €63,904) introduced instead following pressure from expats and interest groups.

Published : 15, Sep 2017
Issuing tax laws by press release perilous for South Africa

Issuing tax laws by press release perilous for...Lock icon

Introducing tax legislation by press release and putting changes into place with immediate effect puts South African taxpayers in an “impossible position”, a tax expert has warned.

Published : 31, Aug 2017
S African expats must assess tax liability before September

S African expats must assess tax liability before...

In the furore over the removal of the tax exemption on foreign earnings, it has become clear that many South African expats are not fully aware of their existing tax obligations on offshore savings and investments and time is running out, warns Old Mutual Wealth’s David Denton.

Published : 23, Aug 2017
S Africa inks key legislation to overhaul financial regulation

S Africa inks key legislation to overhaul financial...Lock icon

After nearly two years' delay, South African president Jacob Zuma finally signed the Financial Sector Regulation Act (2017) into law on Monday, which established two new financial regulators.

Published : 22, Aug 2017
South African tax amnesty on undeclared offshore assets flops

South African tax amnesty on undeclared offshore...

Just a few hundred South African taxpayers have taken advantage of the country’s special voluntary disclosure programme (SVDP) which is due to end on the 31 August.

Published : 21, Aug 2017
Repealing South African expat tax not ‘crazy’ says tax chief

Repealing South African expat tax not ‘crazy’...

A plan to scrap an exemption on taxing foreign employment income is not a “crazy proposal” when compared with other jurisdictions, the head of tax and financial sector policy at South Africa’s National Treasury has said.

Published : 17, Aug 2017
Clock ticking for South African tax amnesty

Clock ticking for South African tax amnestyLock icon

Taxpayers in South Africa have less than a month to come clean and regularise any undisclosed or unauthorised foreign assets or income before the country’s Special Voluntary Disclosure Programme (SVDP) ends on 31 August.

Published : 7, Aug 2017
Top destinations for sun-seeking British expats

Top destinations for sun-seeking British expats...Lock icon

Summer in the UK this year has been a brief affair, so it comes as no surprise that nearly two-thirds of British expats think about the weather when planning their moves abroad. But sunshine isn't the only factor prospective expats should consider.

Published : 4, Aug 2017
Liquidators label collapsed Louis Group as ‘worthless’

Liquidators label collapsed Louis Group as ‘worthless’...

Liquidators for collapsed Isle of Man-based property investment firm Louis Group have said that, following legal advice, they will not pursue claims against Louis Group IoM’s insurers, its parent company in South Africa or founder Alan Louis, reports local newspaper IOM Today.

Published : 31, Jul 2017
South African regulator bans adviser exam cheats

South African regulator bans adviser exam cheats...

South Africa’s Financial Services Board (FSB) has taken action against a large number of individuals who cheated or facilitated cheating on exams to become qualified financial planners.

Published : 28, Jul 2017
Hansard grows despite dip in Middle East & Africa activity

Hansard grows despite dip in Middle East & Africa...

Specialist long-term savings provider Hansard Global has continued to grow on a year-on-year basis despite a halt in new business expansion from the Middle East and Africa region in the fourth quarter.

International Adviser magazine goes digital

International Adviser magazine goes digital

After 12 years of printing monthly copies, International Adviser is going digital from September. This exciting development will allow us to shape our content differently as the markets around the world evolve.

DeVere CEO slams South African expat tax as discriminatory

DeVere CEO slams South African expat tax as discriminatory...Lock icon

South Africa’s decision to tax expats and overseas workers on their foreign income is totally unjust, highly discriminatory and achingly regressive, says deVere Group founder and chief executive Nigel Green.

Published : 25, Jul 2017
S Africa to scrap tax exemption for expats, overseas workers

S Africa to scrap tax exemption for expats, overseas...

South Africans living and working in no and low tax jurisdictions will no longer be exempt from paying tax on their overseas earnings from March 2019 under proposals from the country’s Revenue Services (Sars).

Published : 24, Jul 2017
OMI unveils offshore bond for Middle East and Africa

OMI unveils offshore bond for Middle East and...

Life insurer Old Mutual International (OMI) has launched an offshore bond for advisers in the Middle East and Africa as part of a revamp of its global offshore bond range.

Published : 24, Jul 2017
IoM’s collapsed Louis Group gets second director ban

IoM’s collapsed Louis Group gets second director...Lock icon

A second Isle of Man director of South Africa-headquartered Louis Group, which saw 700 investors lose at least £60m ($78m, €67.4m), has been disqualified as a director.

Published : 21, Jul 2017
Prudential enters Nigeria with landmark acquisition

Prudential enters Nigeria with landmark acquisition...

UK insurer Prudential is set to "redefine" the Nigerian life insurance industry after acquiring a majority stake in Zenith Life and forming exclusive bancassurance partnerships with Zenith Bank in Nigeria and Ghana.

Published : 13, Jul 2017
Most expensive global expat cities 2017

Most expensive global expat cities 2017Lock icon

Five Asian and three European cities were among the 10 most expensive places for expats to live, with the dubious honour of being the most expensive bestowed on the capital of Angola.

Published : 21, Jun 2017
Science beats psychology in advice, says S Africa’s PCH

Science beats psychology in advice, says S Africa’s...Lock icon

With South African clients focused on overseas investment opportunities, local wealth manager Private Client Holdings (PCH) uses investment science rather than psychometric testing to advise clients.

Published : 12, Jun 2017
Professionals are the future of South African advice

Professionals are the future of South African...

With game-changing regulation on the horizon, Kieron McRae, development and brand director at South African advice firm Carrick Wealth, talks about how the industry and can only thrive by becoming more professional and investing in training the next generation of advisers.

Published : 9, Jun 2017

Sponsored Content

Practices in the UAE financial sector ‘no longer tolerated’
Practices in the UAE...

Some formerly tolerated business practices in the...

Ronaldo flogs high-risk scheme to 60m Twitter followers
Ronaldo flogs high-risk...

Football star Cristiano Ronaldo has recommended a controversial...

Analysis: Nexus targets expats amid big changes in Asia
Analysis: Nexus targets...

A major international life company acquisition, a Singapore...

Steps advisers can take to avoid €20m data breach fine
Steps advisers can take...

Financial advisers will have to do a “significant amount...

Fresh pension freedoms inquiry targets scammers
Fresh pension freedoms...

The influential UK Work and Pensions Committee launched...

OTHER STORIES FROM LAST WORD...