SARS warns crypto traders: Declare profits or face penalties

Loading player...

SARS is ramping up efforts to track cryptocurrency traders, warning South Africans that undeclared crypto profits will no longer go unnoticed. With around 5.8 million SA citizens holding digital assets, SARS has launched a compliance initiative using third-party data and AI tools. The voluntary disclosure program offers a way for non-compliant taxpayers to avoid severe penalties, but those flagged for audits face fines of up to 200%.

10 Oct 6AM English South Africa Investing · Business News

Other recent episodes

National Dialogue: SA’s last chance to avoid Armageddon

Following the announcement by President Cyril Ramaphosa that a National Dialogue will be held next year to determine the path the nation will take, BizNews spoke to former Statistician-General Dr. Pali Lehohla. He says: “So the solutions are in leadership. It must be a two-month discussion, ensuring what leadership it…

18 Dec 6AM 26 min

Transforming the Eastern Cape into the next Kruger Park with ‘Big Seven’ - Paul Gardiner

The Eastern Cape in South Africa was once home to lions, black rhinos, and elephants. Early British settler records describe frequent encounters with these animals, but much of the land was later converted into farmland. Adrian Gardiner sought to reverse this trend, spearheading efforts to rewild the region by founding…

18 Dec 3AM 18 min

The Kiffness: Trump, Sooliman & Malema - The back stories

In a year of historic elections across the world, one of the most unforgettable moments in a debate was Donald Trump saying “they're eating the dogs, they're eating the cats”. But it took a South African musician David Scott, AKA The Kiffness, to turn that into a viral hit viewed…

17 Dec 5AM 23 min

De Beer: Malema, Zuma, Godongwana, Ramokgopa, Mchunu, Schreiber - and the ANC’s “Green Communists”

On the last Sunday Show of 2024, Neil de Beer, the President of the United Independent Movement (UIM), issues a stern warning to Julius Malema, the re-elected President of Economic Freedom Fighters (EFF), over his latest “derogatory, violent and revolutionary speech”: “Ons sal jou moer. We will not allow you…

15 Dec 9AM 31 min

Gayton McKenzie: From a prisoner in chains to a popular politician to a possible president…

At the end of a dramatic election year, Sports, Arts and Culture Minister Gayton McKenzie gives BizNews an insider’s view of the Government of National Unity (GNU) and its future - and reminds viewers of what an alternative government with the Economic Freedom Fighters (EFF) and MKP would be like…

13 Dec 7AM 18 min

All episodes