Members of the South African Revenue Service (SARS) and the South African Police Service (SAPS) conducted a raid on an unauthorised warehouse in Vryburg, North-West yesterday, 4 May 2023, confiscating millions of rands worth of illegally manufactured alcohol and bitcoin mining equipment.
5 May 2023 –Members of the South African Revenue Service (SARS) and the South African Police Service (SAPS) conducted a raid on an unauthorised warehouse
9 October 2024 – The South African Revenue Service (SARS) has noted the phenomenal growth of the use of various digital currencies by many South
The South African Revenue Service (SARS) has noted the phenomenal growth of the use of various digital currencies by many South Africans. Prominent amongst these is the prevalence of crypto assets. A staggering number of more than 5.8m South Africans hold a crypto asset, with Southern Africa boasting the largest uptake of Bitcoin in the world.
The South African Revenue Service (SARS) will continue to apply normal income tax rules to cryptocurrencies and will expect affected taxpayers to declare cryptocurrency gains or losses as part of their taxable income.
© 2021 All rights reserved
