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dc.identifier.citationAbela, J. (2020). The tax implications of distributed ledger technology assets and transactions (Master's dissertation).en_GB
dc.description.abstractPurpose: The main purpose of this study is to examine the interpretation of tax professionals/officials regarding the taxation treatment of DLT assets and transactions. This study also analyses the issues and limitations encountered by tax professionals/officials and aims to identify recommendations in order to resolve these concerns. Design: In order to satisfy the objectives of this study, an examination of local and international literature was complimented with a series of fifteen open-ended semistructured interviews involving seventeen tax practitioners and an official from CFR. Findings: The findings of the study highlight that the guidance issued by CFR is utilised by tax practitioners as a fundamental basis for the tax treatment of DLT assets and transaction. However, due to the novel nature of this industry and the occurrence of practical complexities, particularly from a VAT perspective, a substantial amount of conflicting interpretations has been noted amongst participants. The issues and limitations outlined in this study emphasise the need for clarification of practical complexities that are not addressed in the guidelines, the desire for technical feedback from the tax authorities and the concerns arising from the current state of the DLT industry. A number of recommendations were put forward by participants in order to resolve the aforementioned issues and limitations. Conclusion: While the guidelines issued by CFR appear to serve their purpose, a number of issues continue to arise in the industry and are not solely limited to taxation. The study therefore concludes that the foundations of this industry in Malta must continually be fine-tuned and built upon in order to create an ecosystem which may satisfy the needs of the DLT industry from all aspects, including legal, regulatory, human resources and taxation. Value: This study is primarily of interest to tax practitioners who are engaged in servicing clients in the DLT industry by enhancing their knowledge of the tax treatment for this industry. Alternatively, this study is of value to the stakeholders of the DLT industry, particularly companies operating in Malta as well as the Maltese Government, whereby a number of recommendations are identified to assist this industry.en_GB
dc.subjectFinancial services industry -- Technological innovations -- Maltaen_GB
dc.subjectBlockchains (Databases) -- Maltaen_GB
dc.subjectTaxation -- Maltaen_GB
dc.subjectIncome tax -- Maltaen_GB
dc.subjectValue-added tax -- Maltaen_GB
dc.titleThe tax implications of distributed ledger technology assets and transactionsen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.publisher.institutionUniversity of Maltaen_GB
dc.publisher.departmentFaculty of Economics, Management and Accountancy. Department of Accountancyen_GB
dc.contributor.creatorAbela, Julian-
Appears in Collections:Dissertations - FacEma - 2020
Dissertations - FacEMAAcc - 2020

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