SARS: Cryptos are subject to Tax, though not a legal tender

Cryptocurrency Payment Investment News

The South African Revenue Service (SARS) announced that the bitcoins are attracted to the tax ambit. It affirmed that cryptocurrencies, though not recognized as a legal tender, people have to pay tax on them. The entities that support crypto payments have to disclose such income in their accounts and the crypto investors will have to meet capital gain tax.

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