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South Africa to Tax any Activity Related to Cryptocurrencies, Such as Bitcoin

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South Africa to Tax any Activity Related to Cryptocurrencies, Such as Bitcoin

by Vladdirescu Tue Apr 10, 2018 11:46 pm

The South African Revenue Service (SARS) announced in a statement on Friday, April 6, the new tax treatment of digital currencies, obligating citizens to declare any income from trading as well as mining. Disobedience will cost interest and penalties.

"While not constituting cash‚ crypto-currencies can be valued to ascertain an amount received or accrued as envisaged in the definition of ‘gross income’ in the Income Tax Act," Friday’s statement said.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/south-africa-to-tax-cryptocurrencies/

South Africa to Tax any Activity Related to Cryptocurrencies, Such as Bitcoin 5256667ee8f50a2f2335c837a5f3f00d

South Africa to Tax any Activity Related to Cryptocurrencies, Such as Bitcoin 5256667ee8f50a2f2335c837a5f3f00d

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South Africa to Tax any Activity Related to Cryptocurrencies, Such as Bitcoin

South Africa to Tax any Activity Related to Cryptocurrencies, Such as Bitcoin