How Blockchain will disrupt Tax - the experts decide

October 04, 2016

Blockchain is being hailed as the biggest digital development since the Internet. Much has been written about how the technology - which allows anything of value to be traded securely through a tamperproof log of events - will transform business. Less has been said about how it will affect the world of tax. I think the impact could be significant but we wanted to test our thinking. To this end, today we're bringing together experts from technology, government, tax, industry and academia to explore the ramifications. From helping eliminate the tax gap, to changing how and where goods are taxed, blockchain could transform tax as we know it. Ultimately, blockchain could make it easier for people to pay tax and for governments to narrow the tax gap. But like all disruptive technologies, blockchain will also bring challenges, and change will no doubt come sooner than people think. What better place to have this discussion than at the Digital Catapult, part of a network of world-leading centres designed to transform the UK's capability for innovation. We'll be sharing the outcomes soon.

 

Mark Schofield

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