The South African Revenue Service has finally taken action, 6 million users are trembling, the 18%-45% tax rate is even higher than I imagined, the era of compliance has truly arrived.

Bitjie.com news: The South African Revenue Service (SARS) released a draft crypto asset tax guidance on July 1, 2026, proposing compliance rules for approximately 5.8 million to 6 million South African cryptocurrency users. The public consultation period will run until August 31, 2026. Crypto assets are classified as intangible assets; tax obligations are triggered when assets are disposed of. Profits from business operations or short-term trading are taxed at rates ranging from 18% to 45%, while capital gains tax is applied to long-term investment gains at rates of 18% to 36%. Exchanges between crypto assets have tax implications based on fair market value. SARS has deployed the Crypto Revenue Augmentation Unit to track and audit digital wallets, and urged taxpayers to complete their filings through the Voluntary Disclosure Program.