{"id":1700,"date":"2023-05-03T13:32:52","date_gmt":"2023-05-03T11:32:52","guid":{"rendered":"https:\/\/www.ezfreight.co.za\/index.php\/2023\/05\/03\/media-release-how-sars-has-changed-tax-compliance-status-reporting-for-transferring-funds-abroad\/"},"modified":"2023-05-03T13:32:52","modified_gmt":"2023-05-03T11:32:52","slug":"media-release-how-sars-has-changed-tax-compliance-status-reporting-for-transferring-funds-abroad","status":"publish","type":"post","link":"https:\/\/www.ezfreight.co.za\/index.php\/2023\/05\/03\/media-release-how-sars-has-changed-tax-compliance-status-reporting-for-transferring-funds-abroad\/","title":{"rendered":"Media release \u2013 How SARS has changed tax compliance status reporting for transferring funds abroad"},"content":{"rendered":"<p>3 May 2023- The South African Revenue Service (SARS) wishes to provide an update with respect to the matter of Tax Clearance Status. As the previous Tax Clearance Status (TCS) solution had been operational since April 2016 and processed substantial and growing volumes of taxpayers requesting 3rd party verification requests, including Foreign Investment Allowance and Emigration, there was need for an enhancement to the system to rationalise and speed it up. In addition, following the announcement of the abolition of emigration as an exchange control concept in 2020, the South African Reserve Bank (SARB) has removed the requirement to apply to emigrate financially (the MP336 application). This has necessitated changes to SARS\u2019 processes and forms.<\/p>\n<p>The enhanced TCS system was introduced on 24 April 2023 following consultations with authorised dealers and the SARB. It supports the strategic objectives of SARS to make it easier for taxpayers to comply.<\/p>\n<p><a href=\"https:\/\/www.sars.gov.za\/media-release\/how-sars-has-changed-tax-compliance-status-reporting-for-transferring-funds-abroad\/\">See the full media statement here<\/a>.<\/p>\n<p>Source: SARS Tariffs<br \/>\n<a href=\"https:\/\/www.sars.gov.za\/latest-news\/media-release-how-sars-has-changed-tax-compliance-status-reporting-for-transferring-funds-abroad\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=media-release-how-sars-has-changed-tax-compliance-status-reporting-for-transferring-funds-abroad\" target=\"_blank\" rel=\"noopener\">Media release \u2013 How SARS has changed tax compliance status reporting for transferring funds abroad<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>3 May 2023- The South African Revenue Service (SARS) wishes to provide an update with respect to the matter of Tax Clearance Status. As the previous Tax Clearance Status (TCS) solution had been operational since April 2016 and processed substantial and growing volumes of taxpayers requesting 3rd party verification requests, including Foreign Investment Allowance and &hellip;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[24],"class_list":["post-1700","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-shipping"],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Media release \u2013 How SARS has changed tax compliance status reporting for transferring funds abroad - Easy Freight<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ezfreight.co.za\/index.php\/2023\/05\/03\/media-release-how-sars-has-changed-tax-compliance-status-reporting-for-transferring-funds-abroad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Media release \u2013 How SARS has changed tax compliance status reporting for transferring funds abroad - Easy Freight\" \/>\n<meta property=\"og:description\" content=\"3 May 2023- The South African Revenue Service (SARS) wishes to provide an update with respect to the matter of Tax Clearance Status. 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