South Africa Might Increase Taxes on Blockchain Sector

South Africa Might Increase Taxes on Blockchain Sector

A change made to the draft Taxation Laws Amendment Bill by the National Treasury and the South African Revenue Services (SARS) has become the concern among the FinTech community. According to the report, the authorities have suggested cryptocurrency to be categorized as a financial instrument in the draft bill made which predicted high tax on the emerging sector.

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