Use EU Withholding to Test Blockchain, Ex-OECD Tax Head Suggests

Sept. 30, 2021, 3:46 PM

A planned EU withholding tax reform could be the ideal testbed for blockchain applications in tax administration, a former OECD tax policy head told the European Parliament tax subcommittee Thursday.

Investors in EU countries who want to claim tax withheld on dividends or interest from investments in other EU countries must currently go through complex and costly procedures. Recording transactions in blockchain ledgers would ensure correct calculation of withholding taxes from the outset, said Jeffrey Owens, who is now a professor at the Vienna University of Economics and Business.

More broadly, blockchain is “going to transform the way our ...

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