VATupdate

Can blockchain improve VAT Collection? – Part 1

We are witnessing a time of historical crisis where States need, more than ever, resources to finance the policies needed to face it. In many countries, tax reforms are being studied, proposing either an increase in current taxes or the establishment of other new taxes. In view of this, it seems relevant to me to analyze alternatives to make current tax systems more efficient, taking advantage of modern technology. In a survey conducted by the World Economic Forum (WEF) in 2015, 73% of respondents expected governments to collect taxes for the first time via blockchain by 2025.

Source CIAT

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