Early 2021, SARS announced that a new unit that focuses solely on individuals with wealth and complex financial arrangements was established. The unit, known as the High Wealth Individual Taxpayer Segment (HWI), focuses on taxpayers who fall into this category. It is often the case that wealthy individual hold assets unique to this sector, including offshore investments, prompting SARS to increase their compliance focus to filter out non-compliant individuals using information at their disposal since adopting the international standards set out for the Automatic Exchange of Financial Account Information.
It is imperative that tax practitioners working with clients in this segment possess fine-tuned skills to handle queries from SARS. Join Carmen Westermeyer in this 2 hour video where she will unpack topics such as relevant Interpretation Notes, and the correct disclosure requirements for SARS.
After attending this video, you will be: