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SARS clarifies stance on cryptocurrencies

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Regulators around the globe have been grappling with how to tax and manage the cryptocurrency market. The South African Revenue Services has recently clarified its stance on cryptocurrency saying that that all cryptocurrency including Bitcoin will be treated as part of an individual's taxable income and individuals will therefore have to declare its gains and losses as normal tax rules will continue to apply to cryptocurrencies. Andrew Wes, Senior Manager of Legal Counsel at SARS spoke with Business Day TV to elaborate on the decision.
9 Apr 2018 12PM English South Africa Business · Business News

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