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WEALTH CREATION – Tax authorities set their sights on remote workers and wealthy individuals

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GUEST - Professor Jennifer Roeleveld - President of the International Fiscal Association (IFA) South Africa

Digital nomads and high-net-worth individuals with investments in different tax jurisdictions should expect increasing scrutiny from tax authorities, according to Professor Jennifer Roeleveld, international taxation expert and President of the International Fiscal Association (IFA) South Africa.

According to Roeleveld, countries worldwide are witnessing the erosion of their tax bases due to the global transition to a digital-first economy. “Tax authorities are therefore intensifying their focus on establishing the nexus between an individual or entity and their jurisdiction, giving them the right to tax.”

She says the work-from-anywhere trend advanced by the COVID-19 pandemic in 2020 has led to many countries introducing digital nomad visas, enabling employees to conduct business in other countries without registering for tax. South Africa is no exception, having introduced a remote work visa in May this year.
14 Oct 2024 1PM English South Africa Business News · Investing

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