Crypto SARS Issues Guidance on Crypto Asset Tax

EVENT DETAILS

PLATFORM: Zoom via PC/Mobile
DATE: 22 September 2021
TIME: 17:30 – 18:30 (GMT+2)
FEE: No Cost

CRYPTOCURRENCIES

SARS ISSUES GUIDANCE ON CRYPTO ASSET TAX | IS IT ENOUGH?

We are excited to announce our upcoming Webinar presented by Thomas Lobban, Legal Manager: Crypto Asset Taxation at Tax Consulting South Africa, who will unpack the latest news from SARS surrounding crypto assets and the regularisation of Taxpayers’ affairs with SARS.

There is no legitimate way for crypto asset investors to remain “invisible” from a SARS perspective and, while many may still be in denial of this, SARS will keep on getting sharper. Even where you fail to disclose correctly now, the non-disclosure is permanent and will come back in a few years to catch-up with the taxpayer. SARS has appointed specialists to deal with crypto assets, yet the market has not seen any prosecutions in this area of tax.

One thing is absolutely for certain, however – it is no longer enough to hide in plain sight. Crypto asset holdings (not just gains and losses) must now be declared in your returns, and we will soon start seeing the wheels of justice turn quickly for those who are slow to the uptake. 

Attend This Webinar And Get Insights On

  • How SARS has created a special spot for declaring your held crypto assets.
  • Clearing up the confusion on Income Tax vs. Capital Gains Tax.
  • How to declare Cryptocurrency in my tax return?
  • Do you know the Rand vs Foreign Currency.
  • The Importance of Compliance.

ABOUT THE SPEAKER

Thomas LobbanThomas Lobban, holds an LLB and LLM Tax Law degree (his Masters thesis being on the “implications of cryptocurrency as a financial instrument in the Income Tax Act”) and is a SARS registered tax practitioner in South Africa. With both practical tax and consulting experience, Thomas has dealt with various legal conflicts of interest and moved from corporate practice to the consulting industry where he has entrenched himself within tax law, specializing in cryptocurrency-related tax matters extensively as well as cross-border taxation. Thomas is a co-author of the LexisNexis “Expatriate Tax” textbook and in particular its chapter on the interpretation and application of double taxation agreements. As an avid crypto investor, Thomas understands the inner workings of crypto asset technology as well as investment, and combines this with in-depth knowledge of the relevant tax laws to provide comprehensive and practical advice in each matter.

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