Automated Tax Return Verification with Blockchain Technology

Hossain, Safayet; Saha, Showrav; Akhi, Jannatul Ferdous; Helaly, Tanjina

doi:10.1007/978-981-15-3607-6_4

Cited by 4 publications

(2 citation statements)

References 7 publications

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“…There is a lack of research on the implementation of blockchain in a tax system where indirect taxes are collected, particularly in the context of an emerging economy. Our study contributes to the literature on the implementation of blockchain technology in an indirect tax system that was overlooked by prior studies (Cho et al, 2021, Demirhan, 2019, Hossain et al, 2020, Ainsworth and Shact, 2016, Das et al, 2022, Faccia and Mosteanu, 2019b, Gaie and Mueck, 2022, Pasha et al, 2022, Setyowati et al, 2020. The contribution supports the implementation of blockchain on public data.…”

Section: Blockchain and Tax Systemsupporting

confidence: 65%

“…As a result, disposable personal income and savings are increased. However, the use of blockchain in tax transactions has started to attract worldwide attention (Demirhan, 2019, Hossain et al, 2020. Technology is Because of this, it is planned to be adopted in the United Arab Emirates for the reduction of taxation errors and tax compliance.…”

Section: Blockchain and Tax Systemmentioning

confidence: 99%

See 1 more Smart Citation

Does Blockchain Technology Facilitate the Tax System in the Era of Industry 4.0?

Ashfaq

Riaz

Iftikhar

2022

GER

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The use of blockchain technology in the tax system is quite new and has not been studied so far in the context of developing nations. The study explores how blockchain technology can be applied to the indirect tax system of a developing country, specifically for electronic invoices. A sample of seven employees who were from different fields such as the Federal Board of Revenue (FBR), Institute of Charted Accountants of Pakistan (ICAP), private institutions and the commerce department were interviewed. Results revealed that Blockchain technology can be used to distribute safe tax data, such as the Tax invoices serial numbers, which will make submitting the Tax invoices serial numbers more efficient and faster. In addition, the Tax invoices' serial numbers transactions can be tracked and analyzed. government meant must pay attention to the peculiarities of blockchain technology while undertaking a design linked to the implementation of blockchain technology in tax systems.

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