Willem Jan Hoogland, Tax Partner, HKWJ Tax Law & Partners Limited
The Metaverse, Crypto Currencies & NFT’s: Why we tax practitioners care
The Metaverse, Crypto Currencies & NFT's: Why we tax practitioners care. This begs the question, do other institutions / people care? It seems though that the US Department of Justice cares when it made a statement on 8 February 2022 that cryptocurrency is not a safe haven for money laundering. Also, the UK Tax authorities stated on 14 February 2022, in respect of a crypto asset VAT fraud, that you cannot hide from the authorities by using crypto assets. Closer to Hong Kong, the Hong Kong Tax Authorities and the Hong Kong Police also care as since 2021 there has been an increase in romantic scamming frauds by criminals asserting that 'funds' can only be released after the 'withholding' of Hong Kong taxes (which requires the payment of additional cash/crypto currencies). And obviously, individuals and companies care as they want to invest and/or make a profit with crypto assets.
During this presentation, Willem Jan Hoogland of HKWJ Tax Law & Partners Limited and Chair of the DutchCham Tax Committee, will elaborate on the various types of crypto assets, its characteristics thereby using 'real life' scenarios from Decentraland and The Sandbox. Willem will also discuss the possible tax treatment of those assets at the same time and look at some of the IRD Guidance provided by DIPN 39, the position of the HKMA and the recent OECD papers that have been issued on digital assets.
About the speaker
Willem Jan Hoogland has about 25 years’ practical experience in international and Hong Kong tax advisory as well as tax dispute handling. He studied fiscal law at the University of Groningen in the Netherlands. In addition, he obtained LL.M tax law degrees from the University of London in the United Kingdom & the Queens University in Canada and also an LL.B degree and a Postgraduate Certificate in Laws from the University of Hong Kong. He is a qualified solicitor in Hong Kong.
Willem Jan Hoogland is also active within various tax interests’ groups. He is, amongst others, Chair of the International Fiscal Association Branch in Hong Kong and the Chair of the Tax Committee of the Dutch Chamber of Commerce in Hong Kong and actively participates in the Tax Committee of the Hong Kong General Chamber of Commerce in Hong Kong. In addition, he holds memberships with the International Fiscal Association and the International Bar Association and frequently visits their conferences.
In his free time, Willem Jan Hoogland as chair is active within the Dutch Society of Hong Kong.
Willem Jan Hoogland is currently a partner at HKWJ Tax Law & Partners Limited, Tripe Eight Limited and a consultant at Haldanes
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