Crypto losses and the taxman

Crypto losses and the taxman

As the fallout of the FTX bankruptcy scandal rumbles on, many crypto investors in South Africa are likely to incur significant short-term losses. Sentinel’s Savannah Dawson, addresses concerns crypto asset holders may have about how crypto assets might be treated by...
Beware of the penalties of missing a tax return

Beware of the penalties of missing a tax return

In July 2021, the South African Revenue Service (SARS) ramped up its collection power by imposing a series of administrative non-compliance penalties for the non-submission of tax returns, as defined in Section 210 of the Tax Administration Act. From 1 December 2022,...