Blockchain to the Rescue: Improving Taxpayer Engagement with Blockchain
Citation
Source Title
ISSN
Faculty
School
Remarks
Reproduced with permission from the publisher.
Collection
Abstract
Although tax authorities are increasingly moving to digitalisation, there has been limited use of blockchain for assisting tax administration and compliance. This article discusses the potential use of blockchain technology for this purpose. In particular, the Australian tax system is considered in light of the challenges identified in the recent official report published by the House of Representatives Standing Committee on Tax and Revenue. These challenges result from the rising gig economy, complex work-related deduction rules for individual taxpayers and, more generally, tax evasion in the cash economy. To overcome these challenges, this article proposes a blockchain solution that increases taxpayer engagement with the tax and superannuation system. Not only would this solution benefit the Australian Government's ability to raise revenue and induce a good compliance culture, but a similar solution could be adopted in other jurisdictions.
Related items
Showing items related by title, author, creator and subject.
-
Agyabeng-Mensah, Yaw; Oloruntoba, Richard ; Mohammadi, Hossein; Earnest, James (2023)Sustainable maritime supply chains are a network of maritime firms focusing on improving the benefits of their activities to people and the planet while ensuring long-term financial stability (Bernacki, 2021; Altarriba ...
-
Klarin, Anton (2020)Recent advances in science mapping allowed to analyze the entire intellectual structure of blockchain and cryptocurrencies in business-related disciplines to identify 174 academic articles as well as 1482 practitioner-oriented ...
-
Ahmed, Afshaar; Yasir Ali, Agha; Ahmed, Mishaal; Lateef Khan, Abdul; Ahmed, Manzar; Amin, Uzma (2022)In recent years, the dramatic increase in demand of electricity utilization has introduced various environmental and sustainability concerns for Conventional Energy Grid based on fossil fuels, which driving the global ...