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Transformation of Taxation and Tax Procedures in the Information Society: Theoretical Concept

Author

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  • Nataliya Synyutka

    (Ternopil National Economic University, Ternopil, Ukraine)

Abstract

Fiscal policy has a significant impact on us all. How governments mobilize resources and spend them on public goods and services, and how fiscal policy is used to steer the economy, are critical for the well-being of societies. The digital revolution holds vast potential to improve fiscal policy. By transforming the way countries collect, process, and act on information, digital technology can reshape the way governments design and implement their tax, spending and macro-fiscal policies. If technology is used in a smart way, fiscal policy will be more efficient, transparent, equitable, and impactful-improving lives all over the world. The purpose of the article is forming the theoretical concept of digital transformation of taxation – from modern methods and procedures to the digital world in the context of a global digital economy development trend and formation of a network interactions society. The basic approaches to understanding the phenomenon of digital economy and its fiscal consequences were determined. It was found that changes in the structure of trust and relationships between taxpayers and the government, tax inversion are the fundamental innovation in the world's tax systems. The main participants or stakeholders in the taxation process were determined. They are: individual taxpayers, legal entities, software companies, tax agents (intermediaries), and the government, represented by the national tax office. Their goals, objectives and functions were defined. Considerable attention to innovative tax procedures and tools was paid: pre-population of tax return, electronic tax administration, electronic receipt, digital taxpayer's office, automation and data analysis, automatic tips. The expediency of new tax instruments' implementation into Ukrainian tax practice was substantiated, and the terminology and mechanism of implementation were proposed. The phenomena of tax flow inversion and digital exclusion were justified. In order to disseminate the latest digital tools successfully, the fisc requires extensive collaboration between the government and taxpayers, which will change the nature of the agent, authority and taxpayer relationship in the future. The SWOT-analysis of digital tax instruments was carry out. It was proved that the government expenditures for tax system functioning transformed imperceptibly into additional costs by economic entities in the information age. World experience that can be used to improve tax efficiency in Ukraine was generalized.

Suggested Citation

  • Nataliya Synyutka, 2019. "Transformation of Taxation and Tax Procedures in the Information Society: Theoretical Concept," Oblik i finansi, Institute of Accounting and Finance, issue 3, pages 100-106, September.
  • Handle: RePEc:iaf:journl:y:2019:i:3:p:100-106
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    References listed on IDEAS

    as
    1. William Vickrey, 1939. "Averaging of Income for Income-Tax Purposes," Journal of Political Economy, University of Chicago Press, vol. 47(3), pages 379-379.
    2. Bahl, Roy W. & Bird, Richard M., 2008. "Tax Policy in Developing Countries: Looking Back—and Forward," National Tax Journal, National Tax Association;National Tax Journal, vol. 61(2), pages 279-301, June.
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    Cited by:

    1. Inna Khovrak & Dariia Vovk, 2020. "Tax Planning in the System of Accounting and Management Information Space," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 75-81, December.

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    More about this item

    Keywords

    tax policy; tax instruments; fiscal space; digitalisation; tax compliance; tax administration; digital exclusion; tax inverting;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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