South Africa drafts regulations to tax cryptocurrency

in #cryptocurrency3 years ago

South Africa has drafted proposals to impose tax on cryptocurrency.

Local media reports that the South Africa Revenue Service has proposed the regulations last month, outlining the crypto users in the country have to declare details of their crypto assets, both profit and loss, when they submit their taxable income.

The proposed regulations also mentioned that digital currencies will continue to be considered as elusive assets and will continue to come under income tax net.

In April this year, SARS revealed its plan of taxing cryptocurrency.

Moreover, the draft proposals have also talked of the Value-Added Tax (VAT), mentioning that Cryptocurrency transactions are considered a service.

Sort:  
Loading...

This post has received a 3.03% upvote from thanks to: @hkabir62!!!
For more information, click here!!!!

If you use our Robot before your post has 1 day and get an Upvote greater than 1%, you will automatically receive Upvotes between 1% and 10% as a bonus from our other robots.

Do you know, you can also earn passive income after every bidding round simply by delegating your Steem Power to @minnowhelper?
you can delegate by clicking following links: 10 SP, 100 SP, 500 SP, 1000 SP or Another amount

This post has been upvoted by @millibot with 50.0%!
You want higher upvotes?

Vote for my creator @isnochys as witness!

Did you know, that you can make some profit with your witness vote?
More profits? 100% Payout! Delegate some SteemPower to @millibot: 1 SP, 5 SP, 10 SP, custom amount

How about joining the Q initiative? Limited invites here!

You just received a 12.50% upvote from @honestbot, courtesy of @hkabir62!
WaveSmall.gif

This post has received a 3.13 % upvote from @speedvoter thanks to: @hkabir62.

How Cool!

You got a 12.50% upvote from @coolbot courtesy of @hkabir62!

Help us grow, delegate today!

This post has received a 1.88 % upvote from @drotto thanks to: @hkabir62.

This post has been upvoted by @microbot with 16.6%!
You want higher upvotes?

Vote for my creator @isnochys as witness!

Did you know, that you can make some profit with your witness vote?
More profits? 100% Payout! Delegate some SteemPower to @microbot: 1 SP, 5 SP, 10 SP, custom amount

How about joining the Q initiative? Limited invites here!

This post has been upvoted by @nanobot with 25.0%!
You want higher upvotes?

Vote for my creator @isnochys as witness!

Did you know, that you can make some profit with your witness vote?
More profits? 100% Payout! Delegate some SteemPower to @nanobot: 1 SP, 5 SP, 10 SP, custom amount

How about joining the Q initiative? Limited invites here!

You got a 33.33% upvote from @voteme courtesy of @hkabir62! For next round, send minimum 0.01 SBD to bid for upvote.

Do you know, you can also earn daily passive income simply by delegating your Steem Power to voteme by clicking following links: 10SP, 25SP, 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.

This post has been upvoted by @minibot with 33.3%!
You want higher upvotes?

Vote for my creator @isnochys as witness!

Did you know, that you can make some profit with your witness vote?
More profits? 100% Payout! Delegate some SteemPower to @minibot: 1 SP, 5 SP, 10 SP, custom amount

How about joining the Q initiative? Limited invites here!

Thanks to use @jzeek service

Coin Marketplace

STEEM 0.50
TRX 0.09
JST 0.068
BTC 49653.41
ETH 4371.46
BNB 602.61
SBD 6.12