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Tax implications on Salary pegged in USD

Posted 28 January 2016 under Tax Questions



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Bob says:
28 January 2016 at 13:51

I work for an International company and all our income is in hard currency. I want to negotiate to have my salary pegged in USD. What are the Tax implications of having my salary pegged in USD but getting the ZAR equivalent every month?
e. G. Say I negotiate USD1000 with my employer
Jan the rate is 16. 6---->R16 600
Feb the rate is 18. 1---->R18 100

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TaxTimTaxTim says:
28 January 2016 at 15:46

SARS will tax you based the average exchange rates as per their amounts which should move inline with the actual exchange rates.


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