If you own property outside South Africa — a holiday apartment, a rental investment, or that place you “forgot” you inherited — this one’s for you. Thanks to new international information-sharing agreements, SARS will soon receive automatic reports on foreign properties owned by South African taxpayers.

Spoiler alert: SARS isn’t guessing anymore. It’s getting receipts.

And yes… this includes that one in Europe.

Let’s break it down without the panic, jargon, or boredom — and maybe even crack a smile along the way.

👀 What’s Actually Happening?

SARS has joined a global initiative that allows tax authorities to share information about offshore property ownership. This means:

✅ Property registries abroad will report ownership details
✅ SARS will match that data to South African taxpayers
✅ “Out of sight, out of mind” officially stops working

This is all part of a broader global push toward tax transparency, aimed at closing loopholes and making sure everyone plays by the same rules.

🤔 What Is Tax Transparency?

In plain English, tax transparency means that tax authorities can see what you own, where you own it, and whether you’ve declared it correctly.

It’s not about spying — it’s about fairness.

Countries now share data automatically so that income, assets, and property held offshore don’t quietly disappear from tax systems. No more relying on hope, distance, or foreign accents to keep assets hidden.

🔎 What Is the Meaning of “Tax Transparent”?

When something is tax transparent, it means:

• Ownership is visible to tax authorities
• Income can be traced to the correct taxpayer
• Declarations can be verified against real data

In short: if you own it, earn from it, or benefit from it — SARS can connect the dots.

This doesn’t mean you’ve done anything wrong.
It simply means accuracy now matters more than ever.

🌐 Countries Rated as Tax Transparency Compliant

South Africa isn’t acting alone. Over 25 countries have committed to sharing foreign property information, including:

🗺️ Popular locations for SA investors:

  • United Kingdom

  • Portugal

  • Spain

  • France

  • Italy

  • Germany

  • Ireland

  • Belgium

  • Sweden

  • Brazil

If your property is in one of these jurisdictions, SARS will likely know about it once reporting goes live.

This is global tax transparency in action — and it’s here to stay.

🧾 What Is the Purpose of a Voluntary Disclosure?

Here’s the good news (yes, there is some).

A Voluntary Disclosure Programme (VDP) allows taxpayers to come forward before SARS raises questions. Think of it as honesty with benefits.

✨ Why it matters:

  • Reduced or waived penalties

  • Avoidance of criminal prosecution

  • A clean compliance slate going forward

If you disclose first, you stay in control of the narrative — instead of reacting to a very formal, very unfriendly SARS letter.

⏰ When Does This Start?

The new reporting framework is expected to become operational around 2029–2030.

That may sound far away, but here’s the catch:

🔔 Preparation happens now. Enforcement comes later.

Waiting until SARS already has the data is the expensive option.

💡 What Should You Do Next?

✔ Review any foreign properties you own
✔ Check whether income and gains were correctly declared
✔ Consider voluntary disclosure if anything was missed
✔ Get advice before SARS connects the dots for you

Because when it comes to offshore assets, silence is no longer golden — it’s traceable.

Final Thought 💬

Global tax rules are changing, not because governments are bored — but because technology makes secrecy expensive and compliance easier.

A little clarity today beats a lot of explaining tomorrow. Therefore don’t lie away at night, just get the right partners on your side, call the Go2 Accountants.