South African Business Council

TAXATION ALERT

“TAXATION ALERT”

Foreign Employment Income: proposed repeal of exemption in section 10(1)(o)(ii)

The South African Business Council United Arab Emirates (SABCO) has been in communication with various key firms of the South African Accounting Profession in respect of the proposed Draft Taxation Laws Amendment Bill 2017 (“the Draft Bill”) as released by the South African National Treasury.

We assure our members that in the event that the exemption is in fact repealed, we will again hold information sessions to advise our members of key factors which will be applicable to them and we will provide our members with an opportunity to establish contact with Taxation consultants and specialists who will be able to directly ascertain the effect of the Bill on their Incomes.

The Council continues to monitor the developments in conjunction with Price Waterhouse Cooper’s (PWC) South African Partner on Taxation Cor Kraamwinkel. PWC is currently engaged with the South African National Treasury, and will continue to be engaged as part of the public consultations.

In the interim we request all our members to regularly check our website and social media pages for any further updates. For further detailed information which may be required please contact SABCO at admin@sabco-uae.org

For more info: http://www.pwc.co.za/en/publications/tax-alert.html