
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.

Experts say taxpayers with undeclared crypto income should consider voluntary disclosure before enhanced reporting increases the likelihood of a SARS audit.

Crypto users may trigger tax consequences through swaps, staking, mining, payments, employment benefits, or donations, even where no rand conversion takes place.

Treasury and the SARB say the proposals are not intended to criminalise crypto possession and have extended the deadline to comment.

Exchanges say the draft could affect routine crypto use, while one legal analysis questions whether the framework is truly more permissive.