Discover what these widely used acronyms mean for you There has been a steady increase in criminal activity in respect of cybercrime and money laundering which has resulted in financial institutions being required to put in place more stringent measures to assist in combating crime. This means that we must pay specific attention to understand and know clients better in

An overview of International Pension Plans (IPP’s) One of the most important aspects of financial planning is ensuring the passing on of wealth to a spouse, family and future generations on one’s demise. However, this is one area of financial planning that can become very complex when the deceased person’s assets or accounts are in different countries, and this is

It is important to understand the obligations as a Spanish resident to report under Modelo 720. This Q&A considers such obligations in respect of Foreign Pensions offered by Overseas Trust and Pension (OTAP) including OPES (Spain) and COPIA. What is the Modelo 720? It is a report that is submitted online by a person who becomes resident in Spain within

On the 15th of May 2021, News24 issued a press release focusing on Honourable Judge Dennis Davis’s (JDD) speech at the Glacier International Webinar, where he spoke about taxation around foreign pensions. In case you missed it, we have provided a summary below. In short, JDD confirmed that the Davis Tax Committee (DTC) has made no recommendations in respect of

On the 4th of January 2021, not only were South African residents already planning the normal “New Year New Me” resolutions, but the South African Reserve Bank (SARB) wasted no time by following up on their statements in the 2020 Medium Term Budget speech, pertaining to the abolition on the prohibition of ‘Loop Structures’. SARB Exchange Control Circular No. 1/2021

This aid provides general information which may be useful to financial advisers who advise South African nationals, given the Tax changes which come into force in March 2020. It considers a number of related topics including residency, tax and several options available in respect of these. The content of the bulletin is referenced to specific sources which have authoritative standing

Overview Significant criticism has been levelled at the South African Revenue Services (SARS) and National Treasury given the repeal of the income tax exemption on earnings from foreign employment, which commences on 1 March 2020. The main thrust of this criticism has come from South Africans who are ordinarily resident for tax purposes and are i) permanent employees residing in