Overview

The use of cryptocurrencies as an investment vehicle or a means of generating income had shown remarkable resilience. As the industry, which was inherently dynamic, evolved, it opened the door for new opportunities. Yet, at the same time, it introduced new challenges and an elevated level of complexity. In this ever-progressing industry, it was essential for investors and their advisors to keep abreast of the latest developments from a compliance perspective.

This webinar aimed to provide a comprehensive overview of the latest developments in the regulation of cryptocurrencies from a tax and exchange control perspective. It also delved into the practical aspects of reporting and record-keeping for cryptocurrency transactions, addressing common pitfalls and compliance challenges. Furthermore, it examined recent developments and potential future changes in the regulatory framework, helping participants stay ahead of emerging trends and legal requirements.

This session was designed for tax professionals, legal practitioners, financial advisors, and anyone involved in the cryptocurrency space in South Africa.

Webinar Content

In this webinar, the following topics were covered:

• Regulation of crypto assets
• Classification of crypto assets for tax and exchange control purposes
• Latest legislative developments
• International tax authority trends and case authorities
• Fundamental taxation principles and their application to various crypto transactions:
  • Mining
  • Bartering
  • Airdrops
  • Staking
  • Forking
  • Currency exchanges
• Classification as financial instruments and ring-fencing of losses
• Completion of tax returns and record keeping
• Penalties and enforcement
• Exchange control
• VAT considerations.

Competencies Development

After attending the webinar, participants had a better understanding of:

• Background and development in crypto asset regulation
• The latest developments in the regulatory framework of crypto assets
• Application of fundamental tax principles to crypto assets with practical examples
• Practical requirements to comply with tax laws and exchange controls
• Potential future trends in the regulation of crypto assets.

Presenters

Jean du Toit

Jean du Toit is a Senior Associate in ENSafrica's Tax Department, and specialises in corporate income tax, employees’ tax, tax administration and exchange control. His experience includes advising domestic and multinational companies on corporate transactions, structures and financing. He also advises on employees’ tax, including employment mobility and
share incentive schemes. In addition, Jean is also experienced in litigation and tax controversy and dispute resolution and has assisted clients with income tax and mineral royalty tax disputes and has advised clients in the mining, energy, telecommunications and agricultural sectors and/or industries Jean is enrolled as an Admitted Attorney of the High Court of South Africa with the Legal Practice Council.

Megan Stuart-Steer

Megan Stuart-Steer is a Senior Associate in the Tax practice at ENS. She specialises in general corporate tax, including corporate structuring and corporate funding arrangements, employee share incentive schemes and tax dispute resolution. Megan’s experience includes drafting tax opinions in relation to various corporate restructures, mergers and acquisitions (including large scale offshore acquisitions), as well as corporate funding arrangements. She has also advised on the tax and exchange control implications of various transactions involving cryptocurrencies.

CPD

Attending this webinar and the successful completion of the online assessment will secure a certificate of completion for 2 hours of CPD.

Event Investment

Free for Tax Technician, Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

• Regular price:  R460.00
• Special rate for SAIT members:  R368.00
• Group booking discounts available when you register for a group.

Payments & Cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
• Kindly note that should payment not be received 2 days after the event, legal action will be taken
• Proof of payment will be requested at registration, if payment does not reflect on Tax Faculty's bank account.
• Cancellations:
  • Only written notice of cancellation will be recognized.
  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• Tax Faculty`s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.