Paper Info
Title
Can Blockchains and Linked Data Advance Taxation.
Abstract
Permissioned distributed ledgers (permissioned blockchains) supporting smart contracts that automatically adjust accounts and coordinate records among multiple parties, present a valid platform opportunity for establishing a fully digital tax regime. We propose a permissioned blockchain-based system aimed at eliminating some of the losses that tax authorities globally are currently struggling with. These multi-billion flaws manifest themselves as the tax gap, or the inability to collect the full amount that is owed by a given entity to a particular authority. Illegitimate or inefficient tax operations could be prevented with a global suite of smart contracts deployed on top of a consortium distributed ledger with on-chain governance. We also introduce the vision for a VAT Invoice 2.0 modelled as a Linked Data document. A tax reference generated by a smart contract would allow anyone with the right permissions to immediately investigate the entire commercial chain for any taxable item on an ontology-based tax document.
Year
DOI
Venue
2018
10.1145/3184558.3191555
WWW '18: The Web Conference 2018 Lyon France April, 2018
DocType
ISBN
Citations 
Conference
978-1-4503-5640-4
0
PageRank 
References 
Authors
0.34
0
1
Name
Order
Citations
PageRank
Micha R. Hoffman100.34