n Tax Breaks Newsletter - Double tax agreements don't always prevent double taxation : foreign income

Volume 2005, Issue 235
  • ISSN :



Extracted from text ... August 2005 5 FOREIGN INCOME Double Tax Agreements don't always prevent double taxation By KATHY THERSBY THE TAX costs of South African companies doing business outside South Africa's borders could seriously erode margins. Even though South Africa has entered into double taxation agreements and treaties with a number of countries, foreign income earned by a South African resident is often taxed in both South Africa and the foreign country concerned. VENTURING into previously untapped markets may be lucrative, but the costs of doing business outside South Africa could be surprisingly costly, warns Charles MacKenzie, international tax partner at Ernst & ..

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