SA citizens have until end of February to get their tax affairs in order

SABC News SARS - SA citizens have until end of February to get their tax affairs in order

South Africans working abroad and those living in the country, but have foreign assets and income have until the end of February to get their tax affairs in order or face the wrath of SARS.

Tax experts say the taxman is gearing up to get tough with expatriate tax dodgers from March onwards.

The South African Revenue Service (Sars) expects a R300 billion shortfall in tax collection this financial year. This is due to the severe impact of national lockdowns to fight the spread of the coronavirus.

The economic meltdown has resulted in massive job losses which in turn has eroded the tax base.

SARS gears up to get tough with expatriate tax dodgers:

Now, tax practitioners say Sars has set its sights on expatriates to make up for the losses.

Even those living in South Africa but have foreign assets and income are advised to get their tax house in order or they risk facing serious consequences.

The exact number of South Africans working abroad is unknown.

Analysts say it could be more than a million based on emigration trends of the last 20 years.

In this video below, SARS is appealing to South Africans to comply with their tax returns:

 

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