Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
2026 World Cup
Rewards
Square
Latest
Hot
News
Profile

South African Revenue Service releases crypto asset tax guidelines, about 6 million users face audits.

SmartContractAuditor
robot
Abstract generation in progress
Odaily Planet Daily News: The South African Revenue Service (SARS) released a draft crypto asset tax guide on July 1, 2026, aiming to establish compliance rules for approximately 5.8 to 6 million cryptocurrency users in South Africa, and opened the public comment period until August 31, 2026. According to the updated framework, crypto assets are classified as intangible assets, not foreign currency or traditional currency, and taxpayers do not need to pay tax on unrealized gains or losses during the period of simply holding the assets. Tax obligations are triggered upon disposal of assets. If an individual's crypto activities are deemed to be similar to business operations or short-term day trading, the profits will be classified as gross income and taxed at a marginal tax rate of 18% to 45%; if crypto assets are held as long-term investments, disposal gains are subject to capital gains tax, with an effective tax rate for individuals of 18% to 36%. The draft also treats exchanges between crypto assets as barter transactions, with tax consequences arising immediately at the local market value at the time of exchange. SARS stated that it has deployed a Crypto Revenue Augmentation Unit to track and audit digital wallets, and urged taxpayers who have not previously disclosed crypto gains to complete their declarations through the voluntary disclosure program to avoid administrative penalties after stricter enforcement following the August deadline. (Bitcoin.com News)
BTC0.04%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments

  • Pinned

Sitemap