New AI tool helps untangle rules for moving money abroad
The Institute for International Tax and Finance says Clara can indicate when SARS approval may be required and which supporting documents users may need.
#AIT
South Africans living abroad can no longer ignore the AIT process
Banks are already acting on the updated exchange control requirements, and transfers without an AIT certificate may be frozen.
SARB softens exchange control rules, but barriers for non-residents remain
The Reserve Bank has partially reversed its exchange control changes, removing tax-clearance requirements for some non-resident income flows. However, restrictions on rental income and directors’ fees remain in place.
