Income distributions to non-resident beneficiaries may be taxed twice
An amendment to the Income Tax Act makes it easier for Sars to collect taxes owed by tax non-resident beneficiaries of South African trusts.
An amendment to the Income Tax Act makes it easier for Sars to collect taxes owed by tax non-resident beneficiaries of South African trusts.
Trusts that have failed to comply with the rules are exposed to penalties and fines.
It also wants to address the inconsistent treatment of non-resident beneficiaries when capital gains are distributed.
National Treasury will publish a discussion document dealing with the tax treatment of collective investment schemes’ trading profits before proposing amendments to the Income Tax Act, the 2022 Budget Review says. CIS distributions […]