The fact that you’re living, earning and paying taxes in another country is immaterial and some people wrongly believe it means they’ve emigrated, and paying tax in another country exempts one from paying tax in South Africa. Well, that’s not the case.

One has to keep one’s tax account with SARS up to date to avoid paying unnecessary interest and penalties. How then, when living abroad, does one stop paying taxes in South Africa?

There’s only one way to stop paying tax on South African income and that is to financially emigrate. A process between South African tax payers, SARS and the Reserve Bank. It is a detailed, and in some instances, a tedious task but it’s the only way you can tick that box on your ITR12 form, to legally move your money abroad and be totally exempt from paying tax in South Africa.

The good news about Financial Emigration? Once a South African, always a South African.Do you, or friends and family need advice on how to legitimally stop paying tax on your South African income? Let us help you think inside the box!