Blockchain-Based Tax Compliance — Smart Contracts for Automated VAT Collection

Key Points

• To explore the role of smart contracts in facilitating efficient tax compliance through blockchain technology.
• Analyzed the integration of blockchain technology in tax systems.
• Examined the functionality of smart contracts in automating VAT collection.
• Evaluated potential improvements in tax compliance and efficiency.
• Identified benefits of using smart contracts for automated VAT processes.
• Showed that blockchain could enhance transparency in tax collection.
• Suggested that implementation could reduce tax evasion rates.