A new twist in the Tokyo Sexwale “stolen quadrillion” saga has appeared – after the fund invited ANC government, to a Bank in Singapore. The chairman of the Worldwide Proxy and Trustee of the White Spiritual Boy (WSB) and Spiritual Wonder Boy (SWB) Heritage Funds, Mr Chark Leong Boey, has written a letter in his personal capacity, in an effort to clarify the confusion around the Heritage Fund. The Hawks on Monday confirmed that they were investigating two cases of alleged theft amounting to over R41 quadrillion.
Hawks Confirm They are Investigating Two Cases of Alleged Theft from SARB Amounting to over R41 Quadrillion Linked to Tokyo Sexwale!
What South African expats need to know about financial emigration and recession
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With the South African economy currently in recession, lessening the effects of Rand volatility is a top priority for many people at the moment. Many expatriates have retirement funds and other assets in South Africa that they would like to withdraw and transfer offshore. This is known as the process of financial emigration. SAFFA.com had a look at the most common questions about this process below.
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Financial emigration: SARS and small expatriate fish
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Emigrating from South Africa is not as simple as packing up your bags, jumping on a plane and setting up shop somewhere else. Unfortunately, there is still the issue of tax and no matter where you go, the taxman remains interested.
The South African Reserve Bank, SARS and even the globally agreed “common reporting standards” or “CRS” want to know your movements. Even Home Affairs have climbed on this bandwagon in respect of the White Paper released last year which recommends that all South Africans abroad must report themselves correctly, for good recordkeeping and for the authorities to know their whereabouts.
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Due To The South African Reserve Bank Newest Legislation Protocol SA Expats Cannot Use Their SA Bank Cards In The UK
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South Africans in the UK are very surprised to learn that they are not allowed to use their South African Debit and Credit cards while living abroad. Unfortunately, for South African expats, the South African Reserve Bank (SARB) have control over the free movement of South African wealth using Exchange Control. South Africans are allowed..
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