SARS media statement – How SARS has changed tax compliance status reporting for transferring funds abroad

The South African Revenue Service (SARS) wishes to provide an update with respect to the matter of Tax Compliance Status. As the previous Tax Compliance 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.