SARS has a database of South Africans’ offshore holdings

South Africans who are moving money and assets offshore must keep in mind that the foreign financial institutions they are investing with are obligated to share the taxpayer’s investment information with the South African Revenue Service (“SARS”). While taxpayers may transfer as much money as they w…

https://www.polity.org.za/article/sars-has-a-database-of-south-africans-offshore-holdings-2022-12-07