The world is becoming an ever-shrinking space. This means that international transactions are no longer the realm of a specialist even though the concepts are still described in very complex terms.
The aim of this session is to break down the core concepts of international transactions into simple language for individuals. This session will cover:
The concept of residence: When a person is "resident" or "non-resident"
for tax purposes
How a non-resident is taxed in South Africa
Withholding taxes levied in South Africa
How residents are taxed on worldwide income
Residents working abroad
Foreign interest
Foreign dividends
Offshore businesses
Brief overview of controlled foreign companies
Relief for double taxation Double tax agreements
Exemptions
Foreign tax rebate
Tax consequences when a person ceases to be a South African tax
resident
Any person who is looking to gain an understanding of foreign earnings would benefit from this course. Any delegate who is looking to get a refresher on the above topics would also be welcome.