Tuesday, June 10, 2014

SA Government signed an agreement with US

Mluleki Mrwebi
10 June 2014

The South African government together with the United States signed an intergovernmental agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act. 

Deputy Spokesperson for the South African Revenue Service Marika Muller said this agreement promotes transparency between the two nations on tax matters. 

Muller said they are essential looking for openness from American citizens outside the USA, so money that is held by citizens outside the USA to avoid tax.

She added that what this means for South Africa is that in return the USA agrees to share information with the SA about their tax state in South Africa.

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