Tax Consulting SA professionals edit new LexisNexis expat tax book

Tax Consulting SA and publishing database LexisNexis have collaboratively heeded the call for more clarity on the imminent expat tax due to be rolled out in South Africa. LexisNexis has published a book on the implications of the new legislation, edited by senior executives at Tax Consulting SA. 

The legislation’s implications include potential taxation of as much as 45% on the income of wealthy South Africans living abroad, which has sparked widespread concern amongst the South African diaspora. Since the announcement earlier this year, many have scrambled to understand the nuances of the new act.

Tax Consulting SA has been amongst the most prominent voices in this domain. Starting with explanatory bytes at first, the consulting firm has gone on to examine the various repercussions that the legislation is likely to have. One implication, for instance, is the blow to competitiveness of South Africans living abroad, as potential employers have to take on an added tax burden.

Other information being rolled out by the firm includes reports on the companies that are likely to be the worst hit by expat tax in the near future, as well as details on the measures that many expats are taking to avoid the substantial burden that the new tax is likely to bring.

Jonty Leon and Jean du Toit, who have been among the most vocal on the issue, have now supported LexisNexis with its new book on expat tax, acting as Technical Editors for the publication. The book is titled ‘Expatriate Tax – South African Citizens Working Abroad and Foreigners in South Africa.’

The book is aimed at providing clarity and clear the waters when it comes to the expat tax. Since reports of the new legislation came out, speculation around its implications has led many to draw incorrect conclusions, a scenario that could have devastating repercussions for many involved.

In the book’s foreword, Judge DM Davis of the Davis Tax Committee writes that the book is “a most welcome addition to our body of tax literature and will doubtless be essential reading for anyone advising his or her client with regard to the tax consequences of migration.”