SA Exchange Control and International Money Transfers


Duration: 2 Hours

Price: R195.00

Video Type: Single

Presenter: Hugo van Zyl CA(SA)
Presenter: Mathys Briers-Louw
Presenter: Stefan Le Roux
International Tax
...

SA Exchange Control and International Money Transfers

Duration: 2 hours

Price: R195.00


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Title / Topic

SA Exchange Control and International Money Transfers


Overview

The video focuses on understanding financial surveillance, also known as Exchange Control and International Money Transfers (Excon), involving the regulations governing fund movements in and out of a country to safeguard foreign currency reserves. Recent regulatory changes, such as those seen in 2021, are explored to highlight how they affect residents and expatriates in South Africa. Topics include residency distinctions, tax obligations, and Excon regulations, providing participants with a roadmap to navigate these complexities confidently.

Attendees gain insights into tax considerations such as residency status and the role of physical presence, as well as Excon regulations like allowances and approval processes. Additionally, critical aspects such as International Money Transfers and Financial Emigration are discussed, along with opportunities for Foreign Direct Investments. The video also covers considerations for non-resident transactions, including property ownership and Capital Gains Tax, equipping participants with the knowledge to make informed decisions and navigate the regulatory landscape effectively.


Video Content

Tax related content

  • Definition of resident vs non-resident
  • Ordinarily Resident
  • Physical Presence testing

Excon related content

  • Resident vs Non-resident
  • Bona fide non-resident (foreigner)
  • Applicable allowances
  • Approvals (AIT / SARB)
  • International Money Transfers
  • Financial Emigration (sic) – RIP
  • Tax Emigration (ceasing SA tax residency)
  • Loops & Foreign Direct Investments

Non-resident transactions

  • Immovable property
  • Shares in (and loans to) SA company
  • Related income Tax
  • Estate Duty (Donations Tax)
  • Capital Gains Tax

Competencies developed in this video

  • The video provides a comprehensive understanding of the definitions and terminology involved with Exchange Control and International Money Transfers.
  • Attendees gain insight into the practical elements of Excon and International Money Transfers, equipping them with the knowledge and capability to advise clients accordingly.

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