Critical Factors in Adopting Blockchain Technology in Value-Added Tax Systems
Issued Date
2024-06-01
Resource Type
eISSN
26326582
Scopus ID
2-s2.0-85194909294
Journal Title
Journal of Sustainability Research
Volume
6
Issue
2
Rights Holder(s)
SCOPUS
Bibliographic Citation
Journal of Sustainability Research Vol.6 No.2 (2024)
Suggested Citation
Pellegrino A., Stasi A. Critical Factors in Adopting Blockchain Technology in Value-Added Tax Systems. Journal of Sustainability Research Vol.6 No.2 (2024). doi:10.20900/jsr.20240023 Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/98663
Title
Critical Factors in Adopting Blockchain Technology in Value-Added Tax Systems
Author(s)
Author's Affiliation
Corresponding Author(s)
Other Contributor(s)
Abstract
Blockchain technology stands at the forefront of innovation with the potential to revolutionize Value Added Tax (VAT) systems, positioning them as key components in promoting sustainable economic development. In this study, we provide an exhaustive analysis of the diverse challenges encountered in the blockchain integration process within VAT systems, addressing technical, legal, and socio-political dimensions. We address technical challenges such as scalability, compatibility, and data migration, while also highlighting potential vulnerabilities of blockchain systems. From a legal perspective, we analyze the implications of varying data protection standards and regulations across jurisdictions, with a focus on the interplay between blockchain and established legal frameworks. Socio-politically, the study discusses the fundamental shift required in the operations and collaborative mechanisms of tax administrations. Recognizing resistance from institutional stakeholders, we propose strategies for awareness promotion, capacity-building, and organizational adaptation. By considering these multifaceted challenges, the article aims to offer insights into the strategic measures necessary for effective blockchain integration in VAT systems.