SA's Influencer Economy Is Booming And SARS Is Taking Notice
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Guest - Luncedo Mtwentwe, director at Vantage Advisory.
The South African Revenue Service (SARS) is increasingly taking note of the income generated by influencers in South Africa, with some making up to R35,000 for a single social media post.
These additional earnings can create tax headaches for individuals, pushing them up a tax bracket or even making them provisional taxpayers.
The South African influencer industry is rapidly becoming more lucrative, with it estimated to generate around R500 million in economic value each year.
The South African Revenue Service (SARS) is increasingly taking note of the income generated by influencers in South Africa, with some making up to R35,000 for a single social media post.
These additional earnings can create tax headaches for individuals, pushing them up a tax bracket or even making them provisional taxpayers.
The South African influencer industry is rapidly becoming more lucrative, with it estimated to generate around R500 million in economic value each year.
