Basic tax principles will apply to cryptocurrencies
MONEYWEB app instead? Basic tax principles will apply to cryptocurrencies The taxability of the proceeds on the sale of cryptocurrency depends on the facts, and each matter will be decided on its own merits. 00:01 Open: Any âfruitâ arising from a cryptocurrency, such as interest, or a rental, is taxable. Image: Supplied There has been much hype around the taxation of cryptocurrencies and the need for the South African Revenue Service (Sars) to come out with a practice note. The fact that National Treasury and Sars have not come out with any legislation to specifically address...
Source: moneyweb.co.za