Old 2nd Jun 2018, 09:12
  #30 (permalink)  
Join Date: Sep 2015
Location: Middle East
Posts: 77
Originally Posted by Bogey
I wonder if the SAA hopefuls are aware of the following:
In March 2020, South Africans, no matter where they are domiciled will start paying tax to the South African Revenue Service at the nominal rate.
So effectively 45% of their package will be “trimmed”, although there is a dispensation on tax-free earnings for the first R 1,000,000 in the current tax year. (Currently approx. Aed 290,000)
It’s been legislated and will be enforced by the South African Government. No way around it I’m afraid, as banking secrecy is a thing of the past.
You’re not quite correct, there are a few options available, in fact EK arranged a few meetings for people possibly affected by the new law, where some clever financial companies explained those options. So there shouldn’t be any reason to base a decision on moving to Dubai regarding the tax laws.
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