Artificial intelligence tools were responsible for generating approximately €354 million ($414 million) in additional tax revenue in 2024, Austria’s Federal Ministry of Finance announced Wednesday.
A unit specialized in predictive analytics and machine learning methods reviewed in 2024 some 6.6 million tax cases and, in the process, discovered evidence of fraud or attempted fraud of all kinds, according to the ministry,
- It included false statements in employee tax returns or a failure to record the sale of expensive — albeit used — agricultural machinery, which resulted in additional tax assessments of more than €300,000.
- “Just as fraudulent energies are ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.