Foreign Income Tax

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

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

More To Explore

budget speech 2022 South Africa

Budget Speech South Africa 2022 | Highlights & Download

Here are some headlines from the 2022 Budget Speech: Some much needed pragmatism and a balanced budget on the Horison Inflationary Changes to Personal Tax BracketsThe usual inflationary changes have been made to the personal income tax brackets of 4.5%. Find the adjusted brackets below. Reduction in Corporate Income Tax RateIn the previous budget speech

Customs Registration

Why Register For Customs? A Customs registration is a SARS registration for the business, this registration allows you to import or export goods and or services Information You Will Need Customs Registration Employer needs to be loaded on our E’fiing profile with the (Income Tax) tax type activated Company registered representative needs to be appointed

Do You Want To Boost Your Business?

drop us a line and keep in touch

Scroll to Top