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𝗗𝗢𝗘𝗦 𝗦𝗔𝗥𝗦 𝗞𝗡𝗢𝗪 𝗜 𝗛𝗔𝗩𝗘 𝗖𝗥𝗬𝗣𝗧𝗢? If you’re a South African crypto investor, you may have wondered whether SARS can actually see what you’re doing with your crypto. 𝗧𝗵𝗲 𝘀𝗵𝗼𝗿𝘁 𝗮𝗻𝘀𝘄𝗲𝗿 𝗶𝘀: 𝗬𝗘𝗦! 🤯 SARS introduced CARF from 1 March 2026, bringing crypto-asset reporting into the country's broader tax transparency framework. Under the new rules, qualifying crypto-asset service providers 𝗮𝗿𝗲 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗱 𝘁𝗼 𝗰𝗼𝗹𝗹𝗲𝗰𝘁 𝗮𝗻𝗱 𝗿𝗲𝗽𝗼𝗿𝘁 𝗿𝗲𝗹𝗲𝘃𝗮𝗻𝘁 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝘁𝗼 𝗦𝗔𝗥𝗦. Here is how I am dealing with it on @coinfig_tax

People are concerned about South Africa's ability to refine crude oil because some refineries may be down, this leads to increased imports of refined product, such as; diesel and petrol. Reliance on certain countries during the Middle East tension does creates risk, obviously. There are negative effects that will ripple across the global economy, and South Africa isn't immune to such. However, there is also plenty of fear mongering, too, making things seem a lot worse than what they actually are. 🔸Based on the 2024 figures, Oman and India accounted for 34 percent (3.6 billion litres) and 20 percent (2.1 billion litres) of South Africa’s diesel imports, respectively. 🔸The UAE and India accounted for 35 percent (1.4 billion litres) and 24 percent (971 million litres) of South Africa’s petrol imports in 2024, respectively. Italy came in third at 12 percent (489 million litres) and Saudi Arabia at 11 percent (4445 million litres). Now with Oman, its geography allows much of its oil to be exported through terminals such as (1) Duqm and (2) Sohar located outside the strait of Hormuz, helping the country avoid a complete disruption to their exports. (Now you see why these terminals were also hit by drones, it ties into that ability to export). __________________________ Some people are hell-bent on seeing South Africa suffer and to cause more panic than necessary. So we have refining capacity, albeit strained, yes. With most crude oil coming from African markets. This is potential ✅ Yes, we import refined product too, but it is also from diversified sources, albeit with exposure to the Middle East, but their is some resilience ✅ -Yes disruptions will occur -Yes increased demand may effect our imports -Yes there will be negative effects But my point being is that, South Africa isn't entirely exposed, our energy needs and imports are diversified to an extent where South Africa can mitigate some of the effects. Not all the effects, but at a least there is something. That is the point.