Popular
Photo by CRISTIAN HERNANDEZ/AFP via Getty Images

South African Government Announces New Tax Charge for OnlyFans Users

The South African Revenue Services (SARS) has introduced a tax charge for South African OnlyFans users ahead of new financial year.

South Africa has announced that users of popular website, OnlyFans, will be charged standard value added tax (VAT) rates. This comes after OnlyFans, a subscription content service, grew exponentially during 2020 due to the global COVID-19 pandemic. The online platform is known as a free market for content creators who can earn revenue in dollars from monthly subscribers and daily viewers. However, content creators will now have to pay 15 percent of all their earnings to the South African Revenue Services (SARS).

Keep reading... Show less

get okayafrica in your inbox

news.

popular.