Cross-border tax talks

August 16, 2019

Taxing Cryptocurrency: When a currency is not a currency

Doug McHoney (PwC's US International Tax Services Leader) and Rebecca Lee (a PwC ITS Partner specializing in cross-border financial transactions) discuss cryptocurrency, from its basic definition to its impact on taxpayers. Doug and Rebecca address cryptocurrency fundamentals and blockchain; centralized versus decentralized ledgers; whether cryptocurrencies are commodities, securities, or currencies; foreign corporation tax considerations (impact on BEAT, GILTI, subpart F, etc.); how Tax Departments might get involved in the discussion; how governments are attempting to provide certainty and attract business; what if your virtual currency comes to a virtual fork in the road; and the implications of a potential new virtual currency, the Dougcoin.

Duration: 37:28

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Doug McHoney

International Tax Services Global Leader, PwC US

Geoff Jacobi

ITS, Knowledge Management Managing Director, PwC US

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