1. Home
  2. Tax and Accounting
  3. Can Blockchain close the VAT gap

Tax & Accounting

New technology. New solutions to VAT challenges.

Can Blockchain close the VAT gap?

Fraud contributes to around one third of VAT fraud in Europe, representing a loss of close to 50 billion euros. To tackle this challenge on a global scale, many tax authorities are requesting more detailed financial information from taxpayers, often in the form of core transactional data.

This shift forms part of the broader digitization of tax systems around the world. In this new environment, taxpayers in every region – including the GCC – need a sound plan for moving away from the manual VAT management and reporting processes that so many still rely on.

It’s also critical to stay up to speed on the technology-driven developments that could re-shape the tax landscape in the future – including the role that new technologies like Blockchain could play in reducing the VAT gap and fighting VAT fraud. 

To explore these topics in more detail, access our new paper today. Complete the form on the right to receive a copy.

Complete the form to receive a copy of the report

Would you like to be contacted by our team to learn more about Thomson Reuters solutions?(Optional)

By using any Thomson Reuters or its related bodies corporate (TR) website, application, including mobile application ("app"), product, software or service or, otherwise, providing us with any of your (or any other person’s) personal information you consent to our collection, use and disclosure of your personal information in accordance with (and agree to the terms of) our Privacy Statement (which can also be found at https://www.thomsonreuters.com/en/privacy-statement.html or we will provide you with a copy of our Privacy Statement if you email us at privacy.issues@thomsonreuters.com and request a copy). Do not proceed to use any of our websites, products or services or provide any personal information to us if you do not consent/agree to our Privacy Statement.