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View Full Version : Tax on inheritance money in south africa?


pato1
Dec 17, 2011, 06:30 AM
If I receive $5,000,000 cash as inheritance from my late uncle in South Africa, and I want to move the funds to why own account in the Netherlands. I will like to know the tax. Thanks

AtlantaTaxExpert
Dec 18, 2011, 11:07 AM
This forum deals EXCLUSIVELY with tax issues for the United States, NOT South Africa or the Netherlands.

Five MILLION dollars is a LOT of money, and the authorities WILL notice if you transfer it from South Africa to the Netherlands.

Before doing so, I suggest you contact a tax professional for the Netherlands to determine if there are any tax consequences for transferring that amount of money.