SARS intensifies efforts to ensure cryptocurrency tax compliance among 5.8 million South Africans.
The South African Revenue Service (SARS) is intensifying efforts to ensure tax compliance among the 5.8 million South Africans holding cryptocurrency. Concerned about undeclared crypto assets and trades, SARS is collaborating with local exchanges and global tax authorities. The agency is enhancing audit capabilities and using technology to identify non-compliance. Taxpayers are advised to declare their holdings or face potential audits and penalties.
October 09, 2024
14 Articles