Showing posts with label SouthAfricans. Show all posts
Showing posts with label SouthAfricans. Show all posts

Cardano's IOHK collaborated with EBU to improve access to education in Africa.

Input-Output In order to provide more educational opportunities to students in African countries, HK partnered with the European Business University of Luxemburg.

Input-Output HK, the company behind Cardano (ADA), has teamed up with the European Business University of Luxemburg (EBU). Their mission is to make education more “accessible, inexpensive, and equitable” in poor African countries.

Cardano's New African Projects

Input-Output HK (IOHK), a research and development group, established a relationship with the European Business University of Luxemburg (EBU) earlier this week:

“IOHK and the European Business University of Luxemburg have formed a fresh and interesting partnership.”

The education company now works with over 36 international organizations and educates 2,000 students in Africa. As a result, IOHK would want to provide training programs and further educational projects on the continent. Local kids would get free access to instructional materials as a result of the agreement.

EBU will enroll in a certificate program at the university. Students would only pay a €10 commitment fee instead of tuition. The university will offer courses in Plutus and Haskell, two Cardano smart contract platforms.

Cardano, for its part, recently drew the attention of the cryptocurrency community when the dollar value of its native token hit an all-time high of roughly $3. On-chain statistics from social media networks even verified that ADA was the most talked-about digital asset in the previous several days.

Cardano's reach has already extended to Ethiopia and Tanzania.

Cardano, a popular DLT project, teamed up with Ethiopia's Ministry of Education in April to work on a blockchain-based national ID system.

The Atala PRISM will be used to power the network. It should make it possible to create secure records of “educational performance for 3,500 schools, 5 million students, and 750,000 teachers, offering all students verified digital certificates and improving social mobility.”

Shortly after, the blockchain project expanded to the African continent. IOHK and World Mobile collaborated on a project to use Cardano's network to provide digital identities, mobile internet access, and financial acceptance to Tanzanian communities.

Micky Watkins, CEO of World Mobile, lauded the organization's mission along with their IOHK partners:

“World Mobile has created a network based on a new relationship between people and connectivity, in which ownership, governance, and identification work together to empower the user and provide access to all in a sustainable manner.”

Share:

South Africans could risk jail time if they don't pay their cryptocurrency taxes.

South African cryptocurrency investors may face jail time if they refuse to pay tax on earnings made from transactions utilizing cryptocurrencies such as Bitcoin (BTC).


The South African Revenue Service (SARS) may soon take efforts to punish individuals who have not paid their taxes on their crypto earnings, according to Thomas Lobban, legal manager for cross-border taxation at Tax Consulting South Africa.

For tax evaders, a criminal conviction is possible.

According to mybroadband.co.za, South African authorities have found it simpler to secure criminal convictions for tax offenders this year after the country's tax-collecting authority sent audit requests to taxpayers, asking them to divulge their cryptocurrency trades and purchases.

Since SARS has begun cracking down on unreported taxes on cryptocurrency transactions, Tax Consulting's Lobban believes it is critical that taxpayers satisfy their obligations and remain compliant.

Thomas stated that they are not aware of any convictions at this time, but SARS will most certainly set out to set an example in the near future.

“What must be proven in this regard is not only whether a taxpayer willfully committed an alleged infraction, but also if the taxpayer acted negligently – in other words, that a reasonable person would have done differently,” Lobban explained.

Unfortunately, many South African taxpayers refuse to comply with their obligations.

“Individual South African taxpayers have been largely overwhelmed from a tax viewpoint, and this, combined with other factors such as rampant government corruption, has resulted in a sharp drop in South Africans' desire to comply with their tax obligations.”

SARS is enhancing its information-gathering capabilities.

Lobban asked taxpayers to follow the law. SARS is alleged to have contacted independent cryptocurrency platforms in the nation in early June, requesting information on their clients, he added.

Many taxpayers feel that SARS will be unaware of crypto tax evasion and that crypto-asset transactions will be impossible to track, while Lobban claims that SARS is attempting to improve its information-gathering apparatus.

With tax treaties in place, SARS can enlist the assistance of foreign governments in collecting taxes. The agency can also request information on taxpayers from outside the country's boundaries from other revenue bodies.

Share:

Hot Topic

Elon Musk was told by Jack Dorsey that Twitter should include a "Like Signal" protocol.

Elon Musk wonders over possible variations of the social network in a string of text messages. Former CEO and co-founder of the birdsite Jac...

counter, at the bottom of the page, in a table, div or under a menu.