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IN THE LAND OF THE BLIND FILING SEASON CAUSING ANXIETY FOR CRYPTOCURRENCY INVESTORS With filing season fast approaching, it has become abundantly clear that SARS will have its sights set firmly on collecting tax from cryptocurrency activities. READ MORE Thomas LobbanHead of Crypto Tax Consulting Come the 1st of July, taxpayers will have to declare […]

NO LONGER UNDER THE RADAR SARS PUTS A MAGNIFYING GLASS OVER CRYPTO EXCHANGES For the past few years, many have speculated on whether SARS would approach cryptocurrency exchanges directly to disclose their customers’ information. Until recently, taxpayers have largely regarded cryptocurrency as something that exists outside of the reach of the revenue collector. However, this could

SEVEN ESSENTIAL TAX TIPS TO KEEP YOU LEGAL, AND OUT OF JAIL, AS SARS MINES FOR REVENUE IN CRYPTOCURRENCY If the emotional roller coaster of the cryptocurrency crash following Elon Musk’s latest Tweet that Bitcoin and other cryptocurrency mining consumes too much dirty energy such as coal, and his earlier decision that it can no

CRYPTOCURRENCIES ARE YOU AWARE OF THE TAX IMPLICATIONS? Along with the rest of the world, South Africans have shown an appetite for cryptocurrencies. While the size of the market remains unclear, Coinmarketcap gives a figure of $210 billion for the global market, and approximately R6.5 billion for the South African market. READ MORE Thomas LobbanHead

CRYPTOCURRENCY TAX THE CANARY IN THE COALMINE In 1911, coal miners would delve into the depths of the earth with little or no guiding light and none but their own belaboured breath as company. These men faced a silent killer – carbon monoxide levels underground could increase until it was too late for them and

SARS IS CRACKING DOWN ON CRYPTOCURRENCY OWNERS Some South Africans who have bought cryptocurrencies in recent years are being audited by the South African Revenue Service (SARS), who has sent them letters requiring more information about these investments. READ MORE Thomas LobbanHead of Crypto Tax Consulting Featured in Last month, SARS commissioner Edward Kieswetter confirmed

CRYPTOCURRENCY A PRIMARY CONCERN FOR TAX AUTHORITIES There are many South Africans who have made investments into cryptocurrency, and we see all types of traders and investors on a daily basis. It has announced a new dawn of investment world-wide and regulators world-wide have been sluggish to respond. However, it is now firmly on the

SARS PURSUES NON-COMPLIANT CRYPTOCURRENCY TRADERS With South Africa and the world at large facing an economic downturn as a result of various factors, not the least of which being the Covid-19 pandemic, SARS is on a mission to plug the existing gaps in tax revenue collection and compliance. READ MORE Thomas LobbanHead of Crypto Tax