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SARS widens reach to foreign funds
Saturday Star
|February 28, 2026
WATCH OUT
THE South African Revenue Service (SARS) will soon have unprecedented access to South Africans’ offshore financial information.
Starting next month, the revenue service will begin receiving bulk financial data from more than 120 jurisdictions under expanded Automatic Exchange of Information standards developed by the Organisation for Economic Cooperation and Development.
The new framework will allow SARS to systematically obtain details of foreign bank accounts, investments, trusts and digital asset holdings linked to South African tax residents.
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