Cryptocurrency for accountants Part 3: Tax implications

Following on from 2 presentations by Yuri Cataldo on cryptocurrency for accountants. CAW Network USA’s David Nickson, Principal with EY, and leader in Tax, Technology and Transformation, in our 3rd installment shares the latest thinking on the tax implications of buying / selling cryptocurrency.   Cryptocurrency raises multiple complex challenges from a tax policy and compliance perspective – what makes these challenges even more profound is the general backdrop of global tax policy reform at both the country-level and the action of supranational stakeholders (OECD, EU etc).   Spoiler alert – there are very few clear answers, so it is critically important for CAW members to understand the questions that are being asked and the direction they are taking us.

David is a  commercially focused partner with over 20 years tax, financing transactional and technology experience. He is a Chartered Accountant (Fellow, ICAEW), Chartered Tax Adviser (CIOT), Six Sigma Black Belt and IRS Enrolled Agent. He specializes in the integration of technology (SAP, Oracle, Intelligent Automation, RPA, big data/analytics etc), accounting/controllership needs, and tax requirements to increase the efficiency and robustness of E2E business processes, with experience across multiple industry sectors and geography. The business case justification for addressing tax requirements in a holistic manner extends across the organization to include treasury (cashflow enhancement), FP&A (profitability insights), finance operations (process efficiency), internal audit (enterprise risk mitigation), supply chain/logistics, and IT strategy.

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