Naslov
Blockchain technology: potential for digital tax administration

Autori
Owens ; Jeffrey ; Hodžić, Sabina

Izvornik
Intertax (0165-2826) 50 (2022), 11; 813-823

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
blockchain technology ; digitalization ; tax administration ; SWOT analysis ; digital economy ; digital services ; tax policy

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA