Foreign Income Tax

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Foreign Income Tax Explained :

Dividends, employment, rental income, interest, and royalties are all sources of foreign income for many South Africans.

You might be confused about whether the money you earn in a foreign country is taxable in South Africa, and whether you should report it on your South African tax return.

In a nutshell, yes, foreign income is taxed in South Africa.

According to the South African tax system, all local and foreign income received by a South African resident is taxable, irrespective of where it’s paid or where the money comes from.

This is referred to as a Worldwide Tax System.

If South Africa is your primary home and you have a South African passport, you will be responsible for paying taxes there.

We’ll break down foreign revenue into several categories of income to give you a better understanding of the tax implications.

  • Earnings from foreign employment
  • Dividends and interest income from abroad
  • Rental income from abroad
  • Income from International trade
  • Royalties from abroad

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