Bitcoin and the law – Is it legal, what about Tax, and can you leave it to your heirs?
Have you joined, or been tempted to join in, the “Bitcoin frenzy”? If so, read on. Bitcoin and Ethereum are probably the best known of the cryptocurrencies, but (as at 10 April 2018) there were over 1,565 of them, and that number is growing. Whether Bitcoin and its cousins are good investments is a matter […]
TAX PENALTIES: WHAT MUST SARS PROVE?
SARS has the power to impose severe penalties on any taxpayer failing to declare or pay taxes in accordance with law. For example, in a case recently before the Tax Court, a corporate taxpayer was audited by SARS and found to have overstated input VAT. It was assessed (after partial allowance of an objection) for: […]