Deep Tide TechFlow news, July 05, according to Cointelegraph, the South African Revenue Service (SARS) has released a draft guide on crypto asset taxation, clarifying relevant tax treatment in accordance with the current Income Tax Act and capital gains tax rules. The draft states that most crypto activities such as trading, exchanging, and spending are considered "disposal events," which may trigger tax events; crypto assets are classified as intangible assets, not legal tender or foreign currency; the donation tax rate is 20%~25%. The taxpayer's intent is a key factor in determining whether they are a trader or a long-term investor. According to SARS 2024 data, at least 5.8 million residents in South Africa hold crypto assets. The draft is now open for public comment, with a deadline of August 31.