SARS proposes new tax rules for cyptocurrency holders in South Africa

[Luis]

New tax rules for people with cryptocurrency proposed

The South African Revenue Service (SARS) has published its Draft Guide to the Taxation of Crypto Assets, with proposed rules on the tax consequences of working with cryptocurrencies.

“The guidance is based on currently available information on crypto assets,” SARS stated.

 

[JerryMungo]

SARS: Hey, South Africans are making good money, let's put a stop to that.

 

[Bliksis]

Is this a new development?

 

[Snyper564]

Is this a new development?

had a quick look, this is basically all the information in one document. doesnt look like anything has changed

 

[Snyper564]

SARS: Hey, South Africans are making good money, let's put a stop to that.

lol its not a stop to it its just paying your due tax...

Doesnt matter whether you selling rocks or BTC for profit...

Dont get me wrong hate paying tax its just what needs to be accounted for if you make profit...

 

[Bliksis]

had a quick look, this is basically all the information in one document. doesnt look like anything has changed

So another regurgitation. Lol

 

[Snyper564]

So another regurgitation. Lol

well not exactly.

People are lazy and dont want to get tax advisors where large sums are at play this details everything so there is no more "grey"

 

[wingnut771]

Didn't bother reading it, just came here to hear the experts.

 

[JerryMungo]

lol its not a stop to it its just paying your due tax...

Doesnt matter whether you selling rocks or BTC for profit...

Dont get me wrong hate paying tax its just what needs to be accounted for if you make profit...

Nothing wrong with that, I'm ragging the article because they apparently can't decide how they're going to make it appealing to investors.

 

[Bad Ballie]

lol its not a stop to it its just paying your due tax...

Doesnt matter whether you selling rocks or BTC for profit...

Dont get me wrong hate paying tax its just what needs to be accounted for if you make profit...

Agreed, but it still leaves a bad taste in one's mouth, although I do understand why things need to be so complicated as well.

 

[MrGray]

There’s nothing new here at all.