Government walks back on controversial ‘exit tax’ for South Africa, say experts

[BusinessTech]

Government walks back on controversial ‘exit tax’ for South Africa, say experts

Expatriates and those with plans to emigrate will be relieved to learn that the proposal to impose an exit tax on retirement interests will be withdrawn, says Jean du Toit, head of tax technical at advisory firm Tax Consulting South Africa.

 

["D"]

What's the catch?

 

[PaulMurkin]

Retirement interest I have is worth schitt anyway, its in ZAR, so they can keep it... in a few years it will be worth 22 euros or something like that

 

[RedViking]

Good. These people are bonkers.

 

[KarlFranz]

At least there is some good news.

 

[Zophos]

Retirement interest I have is worth schitt anyway, its in ZAR, so they can keep it... in a few years it will be worth 22 euros or something like that

It is scary to me that I saved my entire "Provident & Pension Fund" from working for 8 years in SA, in only 2 Years in EU.

And that is excluding my Retirement fund contributions for the 2 years

But, this is still good news for people with bigger pensions than me....