Many South Africans remit funds abroad or receive international transfers, but misconceptions about exchange control regulations can lead to financial and legal pitfalls. In this podcast, tax attorneys Richan Schwellnus and Michelle Phillips break down the key considerations for individuals and businesses dealing with cross-border transactions.
Topics Covered:
00:00 - Introduction to Exchange Control Regulations
00:31 - Common misconceptions and key mistakes
01:26 - How offshore transfers, travel spending, and credit cards impact allowances
04:13 - SARB approvals, banking requirements, and compliance obligations
07:06 - Expert advice on avoiding financial risks and penalties
Stay informed, seek professional guidance, and ensure compliance to avoid costly mistakes. https://bit.ly/4bqRKCD
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#ExchangeControl #TaxCompliance #FinancialEmigration #CrossBorderFinance #SouthAfricanExpats
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