Sunday, July 17, 2011

Will an overseas pensioner have to pay tax in SA?

Have your pension automatically deposited in your home bank or offshore account outside of South Africa and then transfer from that account to your South African bank account as needed. Make sure it is not transacted though the same banking concern but from a different bank to your local bank. While in South Africa you will have to pay all the other applicable taxes such as sales tax, VAT and Air Passenger taxes when flying , other local taxes etc. You may be taxed by the government from where the pension originate. Death and taxes are inevitable

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