n Tax Breaks Newsletter - Frustration over tax clearance for foreign allowances : compliance

Volume 2015, Issue 352
  • ISSN :



Although the foreign capital allowances for South African residents were increased with effect from 1 April 2015, some industry players say that SARS' procedures still leave them in the same position they were before - that is, they get tax clearance on amounts up to R4 million (usually within a few days), but are referred for audit where amounts exceed R4 million.

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