The South African Revenue Services SARS has urged social media influencers to declare all their income for tax compliance. It says its investigating undeclared income earned through online content.
SARS Spokesperson Siphithi Sibeko says influencers will be taxed according to the income generated.
According to the Income Tax Act of 1962, anyone who earns an income, that income must be taxed. Now in the case of influencers, just like freelancers, they earn income at different times and different levels but be that as it may, when they reconcile everything over a year, that constitutes an income, a gross income they must then be taxed on the basis of the income that has been generated.
