Suppose that currently, the South African economy is in an expansionary phase. The proposed “Exit tax” by the National Treasury would resemble which of the following macroeconomic schools of thought? a) Keynesian theory b) Classical theorists c) Marxist economics d) Monetarist economics
‘Exit tax’ to hit South Africans looking to emigrate from 2022
When ceasing their South African tax residency, taxpayers are subject to an ‘exit tax’ which forms part of the emigration process.
However, the National Treasury has proposed a further tax on those who intend to permanently leave South African shores, say tax experts at specialist advisory firm Tax Consulting SA.
“In the National Treasury’s latest published Draft Tax Bills, which incorporates the tax proposals made in the 2021 budget, the amendment proposes to tax retirement fund interests of individuals when they cease South African tax residency,” the firm said.
Suppose that currently, the South African economy is in an expansionary phase. The proposed “Exit tax” by the National Treasury would resemble which of the following
a) Keynesian theory
b) Classical theorists
c) Marxist economics
d) Monetarist economics
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