The South African Revenue Service (SARS) deems crypto-currencies such as Bitcoin and Ethereum as intangible assets and therefore warns taxpayers to declare gains and losses in theses currencies.
SARS says the onus is upon taxpayers to declare their crypto-currency gains and losses and failure to do so, will lead to interest and penalties.
Joining us in studio is Andrew Wes, the Senior Manager of the Legal Counsel at SARS.
For more news, visit: sabcnews.com
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