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
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
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