Blockchain technology Potential for digital tax administration Jeffrey Owens, Sabina Hodžić
By: Owens, Jeffrey
.
Contributor(s): Hodžić, Sabina.
Material type: 
ArticleSubject(s): POLITICA FISCAL | ADMINISTRACION TRIBUTARIA | BLOCKCHAIN | ECONOMÍA DIGITAL
In:
Intertax v. 50, n. 11, November 2022, p. 813-823Summary: Currently, blockchain is one of the most innovative emerging digital technologies. As such, it can undermine traditional business models and revolutionize tax administration. This objective of this article is to present the potential of blockchain technology in the administration of specific tax categories such as payroll taxes, value added tax, international taxes, and customs. It also analyses blockchain technology’s strengths, weaknesses, opportunities, and threats (SWOT) with a focus on tax administration. As a generator of a substantial amount of information, tax administration requires reliable and efficient technology for processing and storing the information that is generated. The results of the analysis showed strengths such as a lower cost of fulfilling tax liabilities, a direct connection with taxpayers without the need of third parties. a higher degree of efficiency, and threats such as insufficient funds for modernization, knowledge and skills of employees, and willingness to adapt and high investment costs related to implementation. Moreover, it will modernize accounting and tax payments.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 2141/2022/11-5 (Browse shelf) | Available | OP 2141/2022/11-5 |
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| OP 2141/2022/11-2 Interpretation of multi-lateral treaties | OP 2141/2022/11-3 European Union law and global investment regime | OP 2141/2022/11-4 Tax competition and the EU anti-money laundering regime | OP 2141/2022/11-5 Blockchain technology | OP 2141/2022/11-6 Retroactive taxation, investor-state dispute settlement, and India | OP 2141/2022/11-7 Some notes on Luigi Einaudi and the legacy of his ‘Principles of public finance’ | OP 2141/2022/1-2 DAC 7 |
Resumen
Currently, blockchain is one of the most innovative emerging digital technologies. As such, it can undermine traditional business models and revolutionize tax administration. This objective of this article is to present the potential of blockchain technology in the administration of specific tax categories such as payroll taxes, value added tax, international taxes, and customs. It also analyses blockchain technology’s strengths, weaknesses, opportunities, and threats (SWOT) with a focus on tax administration. As a generator of a substantial amount of information, tax administration requires reliable and efficient technology for processing and storing the information that is generated. The results of the analysis showed strengths such as a lower cost of fulfilling tax liabilities, a direct connection with taxpayers without the need of third parties. a higher degree of efficiency, and threats such as insufficient funds for modernization, knowledge and skills of employees, and willingness to adapt and high investment costs related to implementation. Moreover, it will modernize accounting and tax payments.
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