Sars joins global peers in targeting traders’ cryptocurrency gains
The SA Revenue Service is likely to introduce regulations with a focus on digital assets and currencies
30 March 2021 - 16:13
The growing popularity of cryptocurrencies worldwide, which is increasingly leading to them gaining a stronger footing in international business, has awakened tax authorities everywhere to a possible new revenue stream from unreported gains.
In recent years we’ve seen a marked increase in crackdowns on cryptocurrency traders — from the Internal Revenue Service (IRS) in the US to Her Majesty’s Revenue & Customs in the UK and now the SA Revenue Service (Sars)...
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