RVN Chartered Accountants Incorporated

New Approval of International Transfer

On 24 April 2023, SARS announced that they have made some enhancements to the Tax Compliance Status (TCS) process, with immediate effect.

Previously, SARS made provision for an Emigration TCS Pin and for a Foreign Investment Allowance (“FIA”) TCS Pin. These two applications are now, effectively, one and the same, and will be referred to as an Approval for International Transfer (AIT).

One of the changes to the process is that SARS has increased the supporting documents and information necessary for each application. The updated list of required documents can be accessed here:

Supporting Documents for Approval of International Transfers (AIT)

SARS media statement – How SARS has changed tax compliance status reporting for transferring funds abroad

 

While every reasonable effort is taken to ensure the accuracy and soundness of the contents of this publication, neither writers of articles nor the publisher will bear any responsibility for the consequences of any actions based on information or recommendations contained herein.  Our material is for informational purposes and should not be construed as financial advice.

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