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.
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