Blocking the gap the potential for blockchain technology to secure VAT compliance George Alexander
By: Alexander, George
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Material type: 
ArticleSubject(s): IMPUESTO SOBRE EL VALOR AÑADIDO | RECAUDACION | BLOCKCHAIN | CRIPTOMONEDA | CUMPLIMIENTO FISCAL | UNION EUROPEA
In:
EC Tax Review v. 31, n. 3, June 2022, p. 140-155Summary: This article explores blockchain technology as the most optimal solution to tackle the challenge of VAT non-compliance in EU. Focusing on the design aspects of security, transparency, and efficiency, the article argues that blockchain provides the opportunity to tackle non-compliance whilst achieving a balance in both taxpayer’s wants and tax authorities’ needs. Utilizing current examples of blockchain implementation, as well as a specific VAT Coin proposal, it is demonstrated that a blockchain solution can come in many forms; be it a public, private or consortium blockchain, with each type respectively achieving compliance whilst prioritizing different aspects of data security and privacy. Ultimately, it is indicated that a blockchain-based VAT system has the potential to enable a significant reduction in the risk of non-compliance, whilst streamlining taxpayer obligations and protecting valuable datasets.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 2141-B/2022/3-5 (Browse shelf) | Available | OP 2141-B/2022/3-5 |
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| OP 2141-B/2022/3-2 The shortcomings of the EU Public Country-by-Country Reporting Directive | OP 2141-B/2022/3-3 "VAT gap" estimation | OP 2141-B/2022/3-4 BEFIT and formulary apportionment | OP 2141-B/2022/3-5 Blocking the gap | OP 2141-B/2022/3-6 Disproportionate taxation and the right to property | OP 2141-B/2022/3-7 Order in Skelleftea Industrihus AB | OP 2141-B/2022/4 EC Tax Review |
Resumen.
This article explores blockchain technology as the most optimal solution to tackle the challenge of VAT non-compliance in EU. Focusing on the design aspects of security, transparency, and efficiency, the article argues that blockchain provides the opportunity to tackle non-compliance whilst achieving a balance in both taxpayer’s wants and tax authorities’ needs. Utilizing current examples of blockchain implementation, as well as a specific VAT Coin proposal, it is demonstrated that a blockchain solution can come in many forms; be it a public, private or consortium blockchain, with each type respectively achieving compliance whilst prioritizing different aspects of data security and privacy. Ultimately, it is indicated that a blockchain-based VAT system has the potential to enable a significant reduction in the risk of non-compliance, whilst streamlining taxpayer obligations and protecting valuable datasets.
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