South Africans may soon be able to send twice as much money offshore without SARS pre-approval

From South Africa Today

The amount South Africans can send offshore without SARS clearance hasn’t budged since 2011. That’s about to change. On 25 February, Finance Minister Enoch Godongwana announced that the Single Discretionary Allowance (SDA) will double from R1 million to R2 million per person, per calendar year. It’s the most significant overhaul of exchange control policy in nearly 15 [...]