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TAX COMPLIANCE


Approved International Transfers (AIT)

There is a limit to how much you can send funds offshore for investment purposes, and that limit is your R1 million annual discretionary allowance and your R10 million foreign investment allowance, making a total of R11 million a year.

You need tax clearance from the SA Revenue Service (SARS) for the R10 million annual investment allowance (no such permission is needed for the R1 million discretionary allowance). If you’re married, your spouse may also be able to claim another R11 million for investment purposes. That makes a total of R22 million a year.

Phynans has made it easy for you to get your Tax Compliance Status Pin approved so that you can utilize most (if not all) of your allocated AIT for the calendar year.

CONTACT US

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Cell/Whatsapp: 073 852 8540
Email: info@phynans.co.za