Sidney Fletcher, Senior Manager: Trust and Deceased Estate Tax Compliance at Tax Consulting SA, explains the critical changes in SARS’ approach to trust compliance.

In this Moneyweb interview, Sidney highlights the introduction of administrative penalties for trusts failing to submit tax and IT3(t) returns. He details SARS’ expanded reporting requirements, including beneficial ownership registers and resolutions for all trustee decisions.

Sidney’s insights shed light on how these changes align with global efforts to combat financial crime and ensure transparency. Compliance is no longer optional—it is essential for all trusts to act swiftly.

Read the full article to stay ahead of these changes: https://bit.ly/40PP2CQ

#TrustCompliance #TaxCompliance #SARSUpdates #TaxConsulting #TrustManagement #FinancialPlanning #StayCompliant

During this conversation, Lovemore Ndlovu, Head of SARB Engagement and Expatriate Compliance at Tax Consulting South Africa, joins Jeremy Maggs to discuss the critical factors involved in transferring funds overseas and staying compliant with tax regulations.

Lovemore explains the consequences of a cancelled Tax Compliance Status (TCS) PIN and provides actionable advice on how to avoid costly delays, administrative hurdles, and potential reputational damage.

Listen to expert guidance on how to ensure smooth and compliant international fund transfers, backed by professional insight.

For more details, read the full article here: https://www.taxconsulting.co.za/all-must-be-in-order-with-the-tax-man-to-ensure-you-can-smoothly-transfer-funds-overseas/

#ExpatTax #InternationalTransfers #TCSCompliance #FinancialSecurity #HotFM 

In this episode, Richan Schwellnus, (Tax Attorney) and Lovemore Ndlovu (Head of SARB Engagement and Expatriate Compliance), clarify the myths and misconceptions surrounding financial emigration.

As thousands of South Africans explore life abroad, many mistakenly believe that ending South African tax residency fully removes tax obligations. They cover everything from tax residency status and legal commitments to common concerns about costs, complexities, and the "exit tax" on qualifying assets.

This episode is essential for South Africans abroad seeking informed guidance on financial emigration to ensure compliance and peace of mind.