SARS has outlined the reporting obligations for crypto-asset service providers under the OECD’s Crypto-Asset Reporting Framework, which requires service providers to collect and report information on certain crypto-asset transactions to enhance tax transparency and enable the automatic exchange of data with participating jurisdictions.
The South African Revenue Service (SARS) has issued an explanation of the reporting obligations and deadlines for crypto-asset service providers (CAPSs) under the Crypto-Asset Reporting Framework (CARF).
The first reporting period runs from 1 March 2026 to 28 February 2027. The CARF return for this initial period must be submitted to SARS by 31 May 2027, after which the first exchange of CARF information between participating jurisdictions is scheduled to take place in September 2027.
The framework entered into effect on 1 March 2026. The CARF is an international reporting standard developed by the Organisation for Economic Co-operation and Development (OECD). SARS is implementing the CARF to improve tax transparency in relation to crypto-asset transactions.
Under the CARF, CASPs are required to report certain crypto-asset transaction information to SARS. SARS will exchange this information with other participating jurisdictions for tax compliance purposes.
Individual taxpayers do not report directly under the CARF. Reporting obligations rest with the relevant service provider.
SARS will conduct readiness activities, system alignment, and testing against published SARS specifications, including the External Business Requirement Specification (BRS).
Actions required between 1 March 2026 and 28 February 2027
- Determine whether you qualify as a RCASP
- Identify products or services that fall within the scope of CARF
- Design and implement procedures to collect and review self-certifications from new and existing users
- Monitor for changes that may affect a user’s reportable status
Earlier, SARS announced on 6 March 2026 that the crypto-asset reporting framework (CARF) took effect on 1 March 2026.
