National Treasury makes u-turn on foreign retirement benefit exemption plans
The National Treasury decided to reconsider its earlier proposal to remove the tax exemption on foreign retirement benefits for South African residents. The initial proposal would have resulted in pensions earned by professionals and retirees from their time working abroad becoming subject to tax in South Africa. In its advocacy efforts, SAIT, expressed concerns that the change could impact the country’s appeal to skilled immigrants and returning expatriates potentially subjecting these groups to forms of taxation from which they were previously exempt. Acting Deputy CEO Keitumetse Sesana, provides insights on the significance of this reversal in this interview with Newsroom Afrika.
5 minute video
Treasury shelves tax on foreign retirement income
SAIT Deputy Acting CEO, Keitumetse Sesana, speaks about Treasury’s reversal on taxing foreign pensions and how balance reform and fiscal foresight could protect South Africa’s economic credibility.
15 minute audio
Treasury intends to scrap exemption next year
The Treasury’s plan to do away with foreign pension tax exemption is under intense scrutiny. Revenue experts are warning that the move could deter wealthy retirees and expatriates from returning home. SAIT CEO, expands on this matter on eNCA.
2 minute video

