Ensuring Tax Efficiency: When Tax is Triggered on Cryptocurrencies
Duration: 2 hours
Price: R195.00
Ensuring Tax Efficiency: When Tax is Triggered on Cryptocurrencies
Presenters : Jean du Toit , Megan Stuart-Steer
Overview
The use of cryptocurrencies as an investment vehicle or a means of generating income shows remarkable resilience. As the industry, which is inherently dynamic, evolves, it opens the door to new opportunities. Yet, at the same time, it introduces new challenges and an elevated level of complexity. In this ever-progressing industry, it is essential for investors and their advisors to stay up to date with the latest developments from a compliance perspective.
This video aims to provide a comprehensive overview of the latest developments in the regulation of cryptocurrencies, from both a tax and exchange control perspective. It also delves into the practical aspects of reporting and record-keeping for cryptocurrency transactions, addressing common pitfalls and compliance challenges. Furthermore, it examines recent developments and potential future changes in the regulatory framework, helping participants stay ahead of emerging trends and legal requirements.
This session is designed for tax professionals, legal practitioners, financial advisors, and anyone involved in the cryptocurrency space in South Africa.
Video Content
In this video, the following topics are 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 watching this video, you will have 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.