SARS is setting its sights on taxpayers with these assets

GUEST – Jashwin Baijoo, the head of crypto asset compliance at Tax Consulting SA

There has been a boom in South Africans getting into the cryptocurrency market space, and it hasn’t escaped the South African Revenue Service’s (SARS’) attention. Growing alongside this new wave of investors is uncertainty regarding the tax implications of these types of transactions. Jashwin Baijoo, the head of crypto asset compliance at Tax Consulting SA, said that SARS is looking to take a tougher stance when assessing a person’s crypto trading activities and holdings.