This is a past event. Registration is closed. View other International Fiscal Association - Hong Kong Branch events.
The Young IFA Network of the International Fiscal Association HK Branch & The University of Law (Hong Kong Campus) are both proud to announce their jointly organised upcoming in person event about 'The Tax & Law of Virtual Assets in the Metaverse - A Hong Kong Perspective'
When: Thursday 1st of December
Time: 18:30
Where: PwC, Central
For Whom: People of 40 years and below and those that are interested in this topic
RAT TEST: Please do a RAT TEST on the day itself, and state your name, the event's date and the time that you took the test on the KIT and take a picture of it for record purposes. Please be advised that you will need to wear a mask as well.
Over the past few years, virtual assets have become widely adopted by vast part of the population. Among these, cryptocurrencies and Non-Fungible Tokens ("NFTs") values have been very volatile, whereby investors can make astronomic profits by trading. Trading volumes have soared and become a sizeable financial market. At the same time, some people also have lost a significant amount of their investments as a result of trading in virtual assets.
Despite its lack of government oversight due to the decentralised blockchain technology that supports these kind of assets, governments and tax authorities are starting to set up frameworks to regulate and tax cryptocurrencies and NFTs. Therefore, understanding the new regulatory framework and proper tax planning may help reduce the tax liabilities on gains from crypto currencies and NFT trading.
But, what laws are currently relevant in Hong Kong that regulate cryptocurrencies and NFTs and what laws are currently relevant in Hong Kong that determine taxation of cryptocurrencies and NFTs?
This in person session will dive into how cryptocurrencies and NFTs are regulated in Hong Kong and how cryptocurrencies and NFTs will be taxed (with the aid of the Departmental Interpretation and Practice Notes No. 39 (Revised) ("DIPN 39") issued by the Hong Kong Inland Revenue Department) in Hong Kong.
From a Hong Kong and overseas perspectives, whether the current laws are sufficient to regulate cryptocurrencies and NFTs, and whether the IRD should revise the DIPN 39 again and/or whether the Hong Kong government should introduce new tax law to tax cryptocurrencies and NFTs will be discussed as well.
This panel of speakers will offer insight to the legal and taxation issues.
Speakers
Gwenda Ho
Partner at PwC
Gwenda Ho is a Partner of PwC Hong Kong’s corporate tax practice, leading the technology, media and telecommunications sectors as well as the National Tax Policy Services in Hong Kong. She has over 20 years of experience in providing Hong Kong and international tax consulting and compliance services to local, regional and multinational clients. She has been actively involved in a number of tax due diligence, corporate restructuring, cross-border tax advisory, transfer pricing, tax investigations, IPO and blockchain / crypto-related projects. She has broad exposure in Asia Pacific and international taxation and frequently leads assignments involving regional and other overseas taxes.
Rocky Mui
Partner at Clifford Chance
Rocky Mui is a Partner of Clifford Chance (Hong Kong) funds and investment management team. He specialises in fund establishment, authorisation of funds, licensing and regulatory advice, PRC investment programs (QFI/Stock Connect/Bond Connect/CIBM Direct Access), cross-border mergers & acquisitions and general corporate related work.
Rocky is a senior member of Clifford Chance's global Tech group and strategy committee and he leads the Fintech practice in Hong Kong. In particular he has developed expertise in blockchain and virtual assets related matters. He is also a member of the ASIFMA Fintech Working Group, AIMA Digital Asset Working Group, Blockchain Committee of Fintech Association of Hong Kong (FTAHK) and Fintech Committee of the Private Wealth Management Association.
Lucas Ting
Senior Tax Advisor at HKWJ Tax Law & Partners Limited
Lucas Ting focuses on providing Hong Kong, international and Australian tax advice and has developed further expertise in cryptocurrency/blockchain related tax matters. He has over 8 years of experience in providing solutions in complex tax arenas, tax planning solutions for a global network of corporate and expatriate tax and legal advice for corporate/individual clients as well as tax and legal advice for ASIC regulated funds and establishing commercial enterprises under CEPA.
Sponsors and Partners
Organizer
International Fiscal Association - Hong Kong Branch
About International Fiscal Association (“IFA”)
IFA is the only non-governmental and non-sectoral international organisation dealing with fiscal matters. IFA is a neutral, independent, non-lobby organisation and as such the only global network of its kind. As a non-profit organisation, IFA provides neutral and independent platform where representatives of all professions and interests can meet and discuss international tax issues at the highest level.
About Young IFA Network (“YIN”)
YIN was established with the aim to increase the participation of tax professionals in IFA during the early stages of their careers so that they can develop meaningful and long-lasting relationships with their peers from across the world.
