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!
South Africa’s big expat tax is coming – major changes to be introduced in tax exemption on South African expatriates
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In 2017 the National Treasury and SARS announced that they would be introducing major changes in the tax exemption on South African expatriates. According to Claudia Aires Apicella, head of Financial Emigration at Tax Consulting SA, the legislative amendment is set to come into effect on 1 March 2020. It states that South African tax..
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South Africa getting deeper into debt:- City of Cape Town to borrow R4bn from German state-owned KfW Bank
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The plan is to inject investment into the city’s capital programme. On Tuesday, at the mayoral committee meeting, it was revealed that the City of Cape Town is prepared to secure an R4-billion loan within the next three years from the German government-owned Kreditanstalt für Wiederaufbau (KfW) Development Bank.
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Expat tax could be ‘final straw’ for South Africans
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For some, the additional tax burden may be so significant that they won’t have any choice but to emigrate. There is a significant risk that multinationals and young, mobile South African tax residents could move to tax-friendly jurisdictions should the foreign employment income exemption be repealed as proposed, experts have warned. “We will raise in..
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