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.
#exchangecontrolmanual
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.
SARB’s new exchange control rules draw criticism
The Institute for International Tax and Finance says the latest exchange control changes could discourage foreign investors and add red tape for non-residents.
