Post by account_disabled on Feb 27, 2024 1:02:10 GMT -5
The Brazilian tax system is constantly undergoing changes and suggestions for changes that bring rationality to the system are always welcome. In this sense, one of the news frequently discussed is the implementation of blockchain technology as part of the process of calculating, collecting and monitoring taxes. Since it became popular as a means of cryptocurrency operations, blockchain has been evaluated for possible viability in other means. In the case of the tax system, the security and practicality of technology could transform the way Brazilian society deals with taxes, simplifying processes and reducing related costs. To explain this alternative, it is first necessary to understand what blockchain is and how it works . It is a recording system built collectively, so that the data entered is linked to each other. It's like a literal chain: anyone can see it, but it can't be changed without shaking every piece.
Thus, the blockchain is more transparent, as the data is available and visible to everyone and it is more reliable, as it is not possible to make any modifications. The system is also distributed across different cloud storage servers, meaning that data is not concentrated in one place. All movements happen in seconds, which is why it is an extremely practical technology. We were then able Chinese Europe Phone Number List to understand the principle of automation that blockchain brings to taxation. Advances in the tax system with this tool create chances of reducing the cost of compliance, as well as the processes of calculating and automatically collecting indirect taxes (among others) and, of course, greater transparency and uniformity in the information provided.
AsBy means of Opportunities for rationalization and simplification in the data exchange process between taxpayers and tax authorities; – Standardization and crossing of tax information contained in different ancillary obligations; – Use of smart contracts in tax management, including the possibility of real-time calculation of indirect taxes on sales of goods and provision of services. In other words, the advantages appear as tax calculations and collections could be done automatically and in real time. It is useful for taxpayers and the tax authorities at the same time. Not that there are no disadvantages to using blockchain . Precisely because it is essentially transparent, there is a risk of tax and banking information being leaked to agents who do not have the appropriate permissions to access this type of information. Institutions need to prepare to mitigate this risk.
Thus, the blockchain is more transparent, as the data is available and visible to everyone and it is more reliable, as it is not possible to make any modifications. The system is also distributed across different cloud storage servers, meaning that data is not concentrated in one place. All movements happen in seconds, which is why it is an extremely practical technology. We were then able Chinese Europe Phone Number List to understand the principle of automation that blockchain brings to taxation. Advances in the tax system with this tool create chances of reducing the cost of compliance, as well as the processes of calculating and automatically collecting indirect taxes (among others) and, of course, greater transparency and uniformity in the information provided.
AsBy means of Opportunities for rationalization and simplification in the data exchange process between taxpayers and tax authorities; – Standardization and crossing of tax information contained in different ancillary obligations; – Use of smart contracts in tax management, including the possibility of real-time calculation of indirect taxes on sales of goods and provision of services. In other words, the advantages appear as tax calculations and collections could be done automatically and in real time. It is useful for taxpayers and the tax authorities at the same time. Not that there are no disadvantages to using blockchain . Precisely because it is essentially transparent, there is a risk of tax and banking information being leaked to agents who do not have the appropriate permissions to access this type of information. Institutions need to prepare to mitigate this risk.