Thailand aims to use blockchain to stop VAT fraud in oil exportation industry

Type: Trend

Thailand is looking to adopt blockchain technology in mid-2020 to oversee the excise tax for the oil industry. Using blockchain technology, authorities will have a clearer picture of how oil trade is being facilitated. If exporters pay more than the tax they owe; the new system will also be handling the tax return. 

Effective date: Mid 2020

Source

Share on Social Media

Tax Technology Alerts

Type: Legislation Effective Date: 1 July 2026 Slovakia has proposed raising its VAT registration threshold from €62,500 to €85,000 starting 1 July 2026, pending parliamentary

Type: Legislation Effective Date: Phased rollout Uganda’s EFRIS e-invoicing system shows that real-time invoice validation can significantly improve VAT compliance, with liabilities rising by about

Effective date: 1 July 2026 Type: Legislation Argentina’s tax authority (ARCA) issued General Resolution 5824/26, effective 1 July 2026, expanding and modernizing the country’s electronic