Web3 technologies such as Blockchain, Smart Contracts and the Metaverse have created a new frontier for legal professionals. In particular, grappling with issues relating to conflict of laws and choice of jurisdiction have become a challenge for almost every area of law, including but not limited to: commercial law, securities, criminal law, anti-money laundering, estates and many others. Given the interactions and transactions between individuals and businesses facilitated by Web3 technologies in various jurisdictions worldwide, the issue of tax liability is often described as a “gray area” because of the confusion it causes with respect to income tax, excise tax and estates tax.
Knowing the landscape makes this perceived gray area disappear.
Various levels of government cooperation have resulted in attempts to ameliorate the ambiguities created by the various transactions which occur as a result of “borderless” technologies. International organizations such as the Organization for Economic Cooperation and Development, regional governmental organizations such as the European Union, as well as bilateral tax treaties and information exchange agreements have created a patchwork of legislation which causes ambiguity with respect to how, when and which tax rules are applied.
This course will explore the various rules and principles which govern the borderless world in which we now live, using various primary and secondary sources, case studies and expert guest speakers from jurisdictions outside of Canada. The students will be evaluated on group projects, discussions and a final research paper.
Group projects will be focused on particular issues, fact patterns and case scenarios, while discussions will explore hypothetical and factual international tax matters which are currently at issue or which could potentially occur in the future.
The majority of the course will be held in person on campus; however, one to two classes may be held in a Metaverse virtual environment. No irregular or complicated technologies, like headsets, will be required to attend these courses aside from a computer with internet access.
Method of Evaluation: Research paper (7,000-7,500 words): 70% of the final grade, class participation, group projects and reflection notes: 30% of the final grade