Thailand: VAT payments tracking on the blockchain

Thailand VAT payments tracking on the blockchain

The Revenue Department in Thailand is trailing blockchain to track the value-added tax (VAT) payments. The director general, Ekniti Nitithanprapas, revealed that the blockchain integration would curtail the VAT refund fraud. The blockchain would help in verification of tax invoices and spot fake invoices for VAT claims. The agency also intends to adopt machine learning and artificial intelligence.

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