Taypayers Should Declare Their Cryptocurrency Gains, Says South African Revenue Service

Announcements, News, Regulation | April 10, 2018 By:

The South African Revenue Service (SARS) has issued an official statement on the tax treatment of cryptocurrencies, saying that normal tax rules will continue to apply to digital assets.

In its official release, the SARS defined cryptocurrencies as intangible assets instead of a currency for income tax purposes or capital gains tax.