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S.Arica updates: Foreign Employment Income Exemption & SARS issues updated list of jurisdictions contemplated in CbC regulations

South Africa

Report from our correspondent Lutando Mvovo,

South Africa

Foreign Employment Income Exemption;

Frequently Asked Questions (FAQs) (Issue 2)On 22 October 2019, the South African Revenue Service (SARS) published frequently asked questions (Issue 2) on the foreign employment income exemption. The FAQs are drafted to assist employees, employers and the public to obtain clarity and to ensure consistency on certain practical and technical aspects relating to the amendment of the foreign employment income provision. The FAQs are, however, not intended to be used as a legal reference.

The FAQs are also intended to solicit further questions regarding the amendment and will, therefore, be updated periodically to address these questions, as well as any changes to the legislation.

Any questions that have not been addressed in the FAQs can be sent to foreignEmployment@sars.gov.zaFurther developments will be reported in due course.

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South Africa

Report from our correspondent Lutando Mvovo,

South Africa

SARS issues updated list of jurisdictions contemplated in CbC regulations

On 18 October 2019, the South African Revenue Service (SARS) published an updated list of jurisdictions contemplated in article 2(2)(ii)(b) of the country-by-country (CbC) regulations specifying the changes to the CbC reporting standard for multinational enterprises (MNEs). The list is intended to assist members of MNE groups that are tax resident in South Africa in complying with their obligations under article 2(2)(ii)(b) of the CbC regulations.

The process of concluding and activating Qualifying Competent Authority Agreements is ongoing and the list will be updated in the future. The list can be accessed via the SARS website.

Further developments will be reported in due course.

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