Thai government is preparing to track tax payments with block chains

The IRS authorities are testing a tax chain that tracks tax payments through a block-chain.

The National Tax Service of Thailand is planning to use block-chain technology to prevent tax refund fraud. Thailand is aiming to be the first country to conduct tax investigation through distributed chain technology through a block chain.

By supporting VAT invoice verification through a block chain, we expect to be able to eradicate VAT refunds using fake invoices. The IRS also aims to analyze and investigate tax evasion techniques using techniques such as machine learning and artificial intelligence. The objective is to increase the number of eligible taxpayers.

Meanwhile, an official of the Securities and Exchange Commission of Thailand said that it would be illegal to sell STOs participating in Thai investors to international markets. The regulatory authorities have not yet decided how to deal with STOs. Thailand is planning to legalize ICO, permits a cryptographic exchange, and is considering cryptographic legalization through regulation. For more information, please click here .