South Africans may send up to R1 million annually under their Single Discretionary Allowance (SDA) and up to R10 million under their Foreign Investment Allowance (FIA) for various purposes, including crypto arbitrage trading.
To utilise your FIA, you need to obtain a Tax Clearance Status (TCS) PIN from the South African Revenue Service (SARS) by submitting an Approval for International Transfer (AIT) on eFiling.
Remember, purchases from overseas, international subscriptions, and travel all count toward your SDA. It’s your responsibility to ensure you don’t exceed your annual SDA and/or FIA limits.
