VAT Fraud, Cryptocurrencies and a Future for the VAT System

International VAT Monitor, 2019 (Volume 30), No 5

Posted: 4 Jun 2020

Date Written: September 16, 2019

Abstract

In this article, the author outlines the existing interactions between cryptocurrencies, money laundering and organized VAT fraud, evaluating whether a growing use of virtual currencies may result in the development of more sophisticated fraud patterns. The adoption of blockchains, split-payment mechanisms and the definitive VAT regime are discussed as possible long-term measures to address the issue.

Keywords: Vat fraud, cryptocurrencies, taxation, money laundering, vat system

Suggested Citation

Borselli, Fabrizio, VAT Fraud, Cryptocurrencies and a Future for the VAT System (September 16, 2019). International VAT Monitor, 2019 (Volume 30), No 5, Available at SSRN: https://ssrn.com/abstract=3587989

Fabrizio Borselli (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

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