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    pato1's Avatar
    pato1 Posts: 1, Reputation: 1
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    #1

    Dec 17, 2011, 06:30 AM
    Tax on inheritance money in south africa?
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    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.
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