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SARS to take a closer look at Bitcoin, taxi owners and illegal offshore investments


Elvira Wood
Retired judge and now consultant to SARS, Dennis Davis, says the tax collector has built capacity to clamp down on tax evaders.
It is coming for people with dubious offshore investment structures.
SARS is also looking at Bitcoin transactions, the taxi industry and illicit tobacco traders more carefully.
The South African Revenue Service (SARS) is looking closely at people cashing out their investments to buy Bitcoin, people who are illegally moving their money offshore and longstanding tax evaders, including illicit tobacco traders and the minibus taxi industry.
According to retired high court judge and now consultant to SARS, Dennis Davis, SARS is trying by all means to close tax leaks in the country because it wants to keep the tax rates stable, or even reduce taxes if it can nail evaders.   ....

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