Tax Administrations Urged To Start Small With Blockchain

Law360, Vienna (February 25, 2020, 3:06 PM EST) -- Tax administrations looking to use blockchain technology should start with small, transaction-based taxes before attempting to use the technology to tackle large-scale fraud and evasion, tax specialists said at a recent conference. 

Tax authorities should first use the technology for projects that are likely to be relatively straightforward and easy to generate success, Dennis Post, a blockchain and tax leader with EY, said Saturday during a conference hosted by the WU Transfer Pricing Center at the Vienna University of Economics and Business.

“Start with the smallest tax you can imagine,” Post said. “You don’t start with combating value-added tax fraud in...

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