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In this KayaFM interview, Jashwin Baijoo (Partner and Head of Strategic Engagement & Compliance at Tax Consulting South Africa) explains how SARS is identifying undeclared income and how penalties escalate when taxpayers respond late or inaccurately. 
 
This interview covers: 

01:35 | The compliance centred approach and the risk of punitive outcomes 
02:23 | Taxpayer education gaps especially in crypto 
03:01 | High net worth individuals and SARS' relationship managers 
03:50 | How SARS targets crypto traders by reviewing bank statement credits 
05:20 | Global transparency CRS and the OECD Crypto Asset Reporting Framework 
07:15 | Rising enforcement and concerns about overregulation 
08:25 | Understatement penalties up to 200% and tight audit timelines 
09:45 | Income tax versus capital gains tax treatment on crypto disposals 
11:21 | Why voluntary disclosure must occur before SARS approaches you 
13:13 | High net worth complexities offshore trusts and non-compliance 
14:20 | Final advice for taxpayers engaging in crypto or holding complex structures 
 
Contact our team of specialists to stay compliant: https://bit.ly/3Pme6fh 
 
#SARS #TaxCompliance #CryptoTax

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