Blockchain Technology Application for Value-Added Tax Systems

Setyowati, Milla Sepliana; Utami, Niken Desila; Saragih, Arfah Habib; Hendrawan, Adang

doi:10.3390/joitmc6040156

Cited by 45 publications

(22 citation statements)

References 24 publications

(45 reference statements)

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“…Technical novelty, that should be considered substantial, and may possibly revolutionize the world of taxes is blockchain technology, which eliminates the need for centralization and mediation, allowing safe transmission of information and making transactions (Setyowati et al, 2020). At the 2016 World Economic Forum in Davos, more than 800 experts were asked when governments could be expected to levy taxes using blockchain technology.…”

Section: Discussionmentioning

confidence: 99%

Importance of VAT digitization for income disclosure in section F-construction – a case for Poland

Kowal-Pawul¹,

Przekota²

2021

Journal of International Studies

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The ongoing digital transformation is visible in the tax world. In Poland, the process that began in 2016 is defined by the authors as the VAT digitization process. The solutions introduced by the legislator have primarily been aimed at curbing tax evasion and at authorizing efficient audit and as a result, tightening of VAT tax system. The purpose of the paper is, thus, to highlight the importance of VAT digitization in disclosing income in section-F of the economyconstruction and in section-G -wholesale and retail trade; repair of motor vehicles, including motorcycles. There are several reasons these sectors were chosen. In 2016, the Ministry of Finance indicated that the construction industry was characterized by a high risk of tax fraud (making it a so-called sensitive industry). The same year, construction, along with trade, became the sectors affected most by the shadow economy. The conclusion was based on the observation of the construction sector value added in the period of 2017-2019 set against the previous period of 1995-2016 and compared with the trade value added in 1995-2016 and 2017-2019 respectively. The study has found a visible value-added increase, which was reasonably greater than what would have resulted from the economic boom, proving that the income which has so far been subject to tax fraud has been duly demonstrated. Research hypothesis, VAT digitization has a greater impact on disclosing income in section F than in section G, has been positively verified.

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Section: Discussionmentioning

confidence: 99%

Importance of VAT digitization for income disclosure in section F-construction – a case for Poland

Kowal-Pawul¹,

Przekota²

2021

Journal of International Studies

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“…The authors of [31] believe that blockchain government will make 21 practical new forms of infrastructure. The authors of [32] believe that blockchain can produce a faster and more efficient tax invoice system in the tax field [33].…”

Section: Blockchain Consensusmentioning

confidence: 99%

Reputation-Driven Dynamic Node Consensus and Reliability Sharding Model in IoT Blockchain

et al. 2022

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The Internet of Things that links the cyber and physical worlds brings revolutionary changes to society, however, its security and efficiency problems have not been solved. The Consortium Blockchain + IoT is considered to be an effective solution. The IoT blockchain network’s demand for transaction processing speed is gradually increasing. The throughput problem of the blockchain needs to be solved urgently and the security problem of transaction processing that comes with it. To solve the above problems, this paper proposes a reputation-driven dynamic node security sharding consensus model (RDSCM) in the blockchain, which consists of two parts: a reputation-driven node to eliminate PBFT (RE-PBFT) and a reputation-driven node cross reconfiguration sharding scheme (NCRS). The RE-PBFT eliminates abnormal nodes in the consensus network and reduces the probability of abnormal nodes becoming master nodes. NCRS improves the blockchain throughput while ensuring sharding reliability. Finally, the experiment proves that RE-PBFT can identify abnormal nodes and remove them in a short time. NCRS can effectively guarantee the reliability of sharding, and the transaction processing efficiency has been greatly improved after sharding.

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“…It can be considered and presented from different perspectives as it is a sub-category of technologies in which the ledger is structured as a chain of blocks containing transactions and whose validation is entrusted to a consensus mechanism, distributed on all nodes of the network in the case of permission-less or public blockchains or on all nodes the nodes that are authorized to participate in the transaction validation process to be included in the register in the case of "permissioned" or private blockchains. The main characteristics of blockchain technologies are the immutability of the register, transparency, traceability of transactions, and security based on cryptographic techniques [44][45][46].…”

Section: Database Systems: Blockchain Distributed Ledgermentioning

confidence: 99%

Fintech Frontiers in Quantum Computing, Fractals, and Blockchain Distributed Ledger: Paradigm Shifts and Open Innovation

Moşteanu

Faccia

2021

Journal of Open Innovation: Technology, Market, and Complexity

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Among the hot research topics, Fintech is leading the trend in terms of the newest technology applications. The relatively new emerging paradigms in various sciences, such as geometry (fractals), physics (quantum), and database systems (distributed ledger—blockchain), seem to potentially contribute to a greater shift in the framework of the finance industry, bringing also some concerns (cyber-threats). Consistent and extensive investigation of the reasonable potential impact of these new models (and their underlying technologies) is performed, and then tested through a SWOT analysis, as the main objective of this research. Threats and opportunities are always intrinsically driven by the introduction of technological advancements (revolutions). This research confirms that information availability and the increasing interconnection of crosswise applications of each discovery to the different fields of science is determining the rapid succession of revolutions identified by evident large shifts in economic paradigms. The growing computing capacity and the development of increasingly powerful predictive software are leading to a competitive, extremely dynamic, and challenging system. In this context, as shown by history, there is a high possibility of market concentration in which, however, only a few corporations—digital giants—can afford to develop these technologies, consolidating their dominance.

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Blockchain Technology Application for Value-Added Tax Systems

Cited by 45 publications

References 24 publications

Importance of VAT digitization for income disclosure in section F-construction – a case for Poland

Importance of VAT digitization for income disclosure in section F-construction – a case for Poland

Reputation-Driven Dynamic Node Consensus and Reliability Sharding Model in IoT Blockchain

Fintech Frontiers in Quantum Computing, Fractals, and Blockchain Distributed Ledger: Paradigm Shifts and Open Innovation

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