South Africans with foreign assets must come clean - soon

With the noose tightening globally on individuals and enterprises that have used offshore structures to dodge exchange control and tax regulations‚ time is running out for South Africans to come clean.That timeframe is a period of six months from 1 October this year under the Special Voluntary Disclosure Programme (SVDP) introduced by the Financial Surveillance Department of the South African Reserve Bank (FinSurv) and SA Revenue Service (SARS).