SARS is hitting South African estates with penalties, additional assessments, and delays

• The South African Revenue Service (SARS) does not provide special treatment for digital assets when administering a deceased estate.
• Executors must carefully determine and document the value of digital assets using reputable exchange data, professional valuations or other supporting evidence.
• If assets are missed, incorrectly valued or not properly accounted for, the estate could face problems with SARS, including penalties, additional assessments and delays in finalising the estate.