Blockchain in Taxation

Blockchain in taxation is a secure digital ledger that records tax-related transactions transparently and immutably. It allows governments and taxpayers to track, verify, and store tax filings, payments, and compliance data in real-time. This technology reduces fraud, enhances transparency, and streamlines audits by providing an unchangeable record accessible to authorized parties. Overall, blockchain improves efficiency and trust in the tax system while safeguarding sensitive information.