Recent developments in the FinTech industry and tax implications

FinanceMalta

September 1, 2020

Recent developments in the FinTech industry and tax implications

The financial services industry has seen drastic technology-led innovation changes over the past few years. Undoubtedly, the accelerating pace of technological change has become the driving force in the financial services ecosystem. FinTech disruptors have been striving to get in the traditional ecosystem as we know it. The training session is divided into 2 parts. The first part of the training focuses on giving participants the tools to understand the implications of FinTech including the most recent developments in the EU including Malta. Whilst, the second part will focus on the tax considerations particularly the application of general principles of taxation to the innovative technology which continues to grow and develop within the EU and globally.

OBJECTIVE OF THE SESSION

To instill awareness of the developments and available tools in the Fintech scene.

Overview

Why Attend?

Agenda Highlights:

09:15 - 12:30 - Topics -
- EU Banks and the future of money – the rise of digital payments and currencies
- A look at tokenisation of assets and securities
- Updates on Malta’s DLT Framework
- Updates on Malta’s fintech strategy
- Malta’s Fintech sandbox
- AML and compliance considerations
- Tax Considerations - tax treatment of digital ledgers, virtual assets and cryptocurrencies.

Confirmed Speakers

Dr. Kelly Fenech - Kelly Fenech is a qualified lawyer and senior associate with WH Partners who advises both international and local clients. He has also been appointed as a designated person for WH Innovation Ltd – a VFA Agent in terms of Articles 7 and 14 of the Malta Virtual Financial Assets Act. Kelly specializes in distributed ledger technology, financial services, fintech and capital markets with a special focus on investment and payment services, anti-money laundering, securities and private placements equity issues. His current work includes the issuing of legal opinions, assisting clients apply for financial services licences and advising multiple companies on various regulatory matters to ensure they remain compliant with EU legislation and MFSA and FIAU requirements. Kelly also regularly assists clients in all corporate and commercial matters including corporate governance, M&A transactions and general company law.
Dr. Gaby Zammit - Gaby Zammit joined WH Partners in 2017 after spending a number of years at one of the big four audit firms advising both local and international corporate client base with a focus on financial regulatory work. She graduated in law in 2006 and was immediately drawn to the international aspect of financial services, specialising from the start on how to apply Malta’s robust regulatory framework to international corporate structures. Her primary areas of focus are on regulatory work with a specialisation on investment services, collective investment schemes, payment services providers and capital markets, including listing on main and secondary prospects markets. She regularly advises on a variety of international corporate structures, including the setting up of Maltese entities, re-domiciliations, cross-border mergers, M&A transactions and assisting clients on corporate governance matters.
Dr Joselyn Teuma - Joselyn Teuma graduated with a Bachelor of Laws Degree (Hons) in 2018 from the University of Malta and with a Master of Advocacy in 2019 from the same University. Having particular interest in Taxation law, in 2018, Joselyn submitted her Term Paper on a legal subject to the Faculty of Laws entitled Public County-by-Country Reporting – The Solution Towards Greater Tax Transparency. She was awarded with an Award in Tax Compliance in 2019 after successfully completing a course on Tax Compliance held by the Malta Institute of Taxation. Joselyn is currently participating in a course on Taxation at the same Institute, with a view of graduating with a Professional Award in Taxation in 2020. Joselyn has acted as a liaison officer in the 2017 Maltese Presidency of the Council of the European Union and has been a member of several sub-committees in organisations within the University, particularly in GħSL.