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

May 31, 20200

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


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