Crypto transactions and undeclared holdings face growing scrutiny
Experts say taxpayers with undeclared crypto income should consider voluntary disclosure before enhanced reporting increases the likelihood of a SARS audit.
#CARF
CARF expands SARS’s visibility over crypto transactions, says PwC
The new reporting regime, effective from 1 March, increases the information available to SARS through third-party reporting and international data exchange.
Stricter reporting obligations for crypto-asset transactions
From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
Digital drive fuels compliance, latest tax statistics show
Tax experts Louis Botha and Nicholas Carroll from Cliffe Dekker Hofmeyr discuss the significance of 2023 Tax Statistics, emphasising the potential impact of additional tax measures, the growth of the taxpayer base, and insights into Company Income Tax trends.
South Africa undertakes to implement Crypto-asset Reporting Framework
As global jurisdictions, including South Africa, gear up to implement the Crypto-Asset Reporting Framework by 2027, a new era of tax compliance and intensified efforts to combat crypto-related tax evasion is on the horizon.
