SciELO - Scientific Electronic Library Online

vol.22 número1Knowledge exchange and ethnic networks of clustered small-scale enterprises in Africa: A case study of furniture cluster in TanzaniaThe impact of South African real estate investment trust legislation on firm growth and firm value índice de autoresíndice de assuntospesquisa de artigos
Home Pagelista alfabética de periódicos  

Serviços Personalizados



Links relacionados

  • Em processo de indexaçãoCitado por Google
  • Em processo de indexaçãoSimilares em Google


South African Journal of Economic and Management Sciences

versão On-line ISSN 2222-3436
versão impressa ISSN 1015-8812


GREEFF, Cecileen. An investigation into the output tax consequences of bitcoin transactions for a South African value-added tax vendor. S. Afr. j. econ. manag. sci. [online]. 2019, vol.22, n.1, pp.1-9. ISSN 2222-3436.

BACKGROUND: The use of bitcoin in South Africa is fairly new, but has increased as several online retailers now accept bitcoin as a means of payment. The South African Revenue Service has released a media statement regarding the normal tax treatment of cryptocurrencies (such as bitcoin), but policy regarding the value-added tax (VAT) treatment of cryptocurrencies is still pending. AIM: The objective of the study is to determine the output tax consequences for a South African VAT vendor who receives bitcoins in exchange for the supply of goods or services that are subject to VAT, and when the same South African VAT vendor exchanges the bitcoins for South African rand at a local exchange platform. SETTING: This article examines existing literature in a South African VAT environment. METHOD: A non-empirical study based on existing literature is performed. RESULTS: It is found that when interpreting the (current) VAT Act No. 89 of 1991, the receiving of bitcoin in exchange for the supply of goods or services, as well as the exchange of bitcoin for South African rand, is subject to output tax at the standard rate of 14%, which will lead to 'double taxation'. CONCLUSION: It was shown through this study that the proposed treatment as explained in the previous section would impose 'double taxation'

Palavras-chave : Bitcoin; Output tax; VAT; VAT Act No. 89 of 1991; South Africa.

        · texto em Inglês     · Inglês ( pdf )


Creative Commons License Todo o conteúdo deste periódico, exceto onde está identificado, está licenciado sob uma Licença Creative Commons