![\"South](\"https:\/\/s3-images.ctmedia.io\/media\/article-covers\/booksouth-africa.png\")
<\/p>\n<\/p>\n
South Africa\u2019s tax authority proposed draft guidance clarifying how crypto assets are taxed under existing income and capital gains tax rules, seeking public input until Aug. 31.<\/p>\n
South Africa\u2019s tax authority has proposed new guidance that clarifies how crypto assets are taxed under existing income and capital gains tax frameworks.<\/p>\n
The South African Revenue Service (SARS) on Wednesday published<\/a> draft guidelines on crypto asset taxation, app<\/a>lying South Africa\u2019s existing tax framework, primarily the Income Tax Act, 1962, alongside capital gains tax rules.<\/p>\n The draft provides that most crypto activities, including trading, swapping and spending, are general<\/a>ly treated as disposals that may trigger tax events. It still emphasizes that the rules depend heavily on each taxpayer\u2019s specific circumstances.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n