Blockchain tech can raise tax revenues

Blockchain technology, the lifeblood of the world’s booming cryptocurrency market, has the potential to be the next frontier of tax collection. 

But, according to the South African Revenue Service (Sars) and experts, there will probably have to be a huge push for skills and adoption before blockchain becomes a mainstay of the tax system.

Sars is considering using blockchain technology, said the tax agency’s head of technology, Intikhab Shaik.

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Sarah Smit
Sarah Smit
Sarah Smit is a general news reporter at the Mail & Guardian. She covers topics relating to labour, corruption and the law.

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