Taxation Transformation under the Influence of Industry 4.0

Abstract

Today the growing level of automation and the new concept of online technologies are transforming the traditional industry. Value is generated with the help of Industry 4.0 technologies that not only increase the efficiency and agility of supply chains, create new products and offer new ways of connecting businesses and consumers but also have a major impact on the traditional tax system. This study aims at determining changes in the modern industrial economy and substantiating possible directions for transforming the tax system to adapt it to the requirements of Industry 4.0. The objective is to identify the relationship between the digitalization of the economy, the use of blockchain technologies, robotics, automation, M2M technologies offered by Industry 4.0, and taxation. The article demonstrates how these technologies influence taxes and proposes measures to address possible tax issues. The authors of the article have concluded that the reasons (and goals) for transforming the current tax system as a result of the development of Industry 4.0 technologies are as follows: 1) to increase or stabilize tax revenues to compensate for tax losses and finance new education needs; 2) to introduce innovations for the development of Industry 4.0 and further digitalization of the economy; 3) to create an automatic tax administration system.

Implementation of Lean Manufacturing Principles and Fast Structured Logic Methods in the Organizational Culture: Addressing Challenges and Maximizing Efficiency

“…Service technicians can scan the code on the replacement part very quickly to obtain further instructions leading to proper installation. Due to this technology, maintenance specialists do not need special training for machine maintenance and repair [34].…”

“…With the beginning of the fourth industrial revolution, new technologies and concepts appeared, without which Industry 4.0 could not function. The first of these concepts is the Internet of Things (IoT) [33] This idea is a combination of various objects, ranging from not only the ones directly connected to the Internet, such as computers, smartphones, or tablets, but also household appliances and electronics, to large production lines, machine tools, and robots that are used in various industries [34] The advantages of such solutions include saving time, reducing costs, and speeding up the flow of information and increasing the efficiency of employee use, which leads to increased production efficiency [35,36]. Industry 4.0, combining the fields of technological innovation and the concepts of value chain organization, is revolutionizing almost all sectors of the manufacturing industry.…”

Importance of the Information Environment Factor in Assessing a Country's Economic Security in the Digital Economy

“…The most characteristic examples of such threats are theft (modification, distortion, etc.) of economic information; theft of information products [28] that ensure the economic growth of a country; violation of the functioning of information and communications systems and the destruction of information infrastructure; information attacks against subjects of economic relations; unforeseen economic problems due to socio-political turbulence; changing the worldview of the leadership of a country and/or key economic structures through information and psychological impact [36].…”

“…2) sources presenting a doctrinal-political and legal understanding of security in the information environment in its connection with national and state security. Supporters of this point of view believe that economic security in the information environment is the state of security of society, the state, the information and technical infrastructure, and the economy, in which their normal functioning is achieved regardless of internal and external information influences [6,[27][28][29].…”

SME Exports in Novosibirsk Region: Sustainable Development Trends

“…The most important are the development of small and medium-sized business entities. Being an independent and indispensable element of the market economy, small and medium enterprises contribute to the economic restructuring, strengthen the economic base of regions, increase the overall volume of production and retail trade, create a favorable environment for competition, provide employment for a significant part of the population, and stimulate scientific and technological progress [1,2]. Such enterprises have low operating costs, create rational organization and management, and conduct a constant search for innovative solutions and new activities, which are characterized by a sense of initiative and entrepreneurship [3].…”