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The Prospects of the New VAT System in Europe in the Context of Digitisation and the Use of Blockchain

In: Reshaping Power Dynamics Between Sustainable Growth and Technical Disruption

Author

Listed:
  • Flavius Valentin Jakubowicz

    (Bucharest University of Economic Studies
    Ovidius University)

  • Ionela Florea Munteanu

    (Bucharest University of Economic Studies
    Ovidius University)

Abstract

The European Union is currently undergoing significant transformations in its value-added tax (VAT) system as a result of rapid digitalisation and the integration of blockchain technology into everyday life. This article provides an overview of the emerging VAT framework in Europe in an international context, discussing the implications and benefits of this necessary modernisation process. The main research focus was accounting, based on the premise that the foundations of taxability and economic development are based on the reliable information provided by accounting. The research methodology consisted of a bibliometric analysis of a total of 1274 articles indexed in the Scopus database between 2015 and 2023, accounting research being the main theme and blockchain technologies and tax systems being the secondary themes. The findings of this article point to significant incentives in the field of research on the relationship between blockchain technologies, accounting, and tax systems. The implications of the digital age on VAT mechanisms present new opportunities and challenges and nevertheless impose pressure for law clarification. The results of the study provide a comprehensive series of interesting data analysis both for professionals using blockchain technology in economic activities and for academics by providing new research paths.

Suggested Citation

  • Flavius Valentin Jakubowicz & Ionela Florea Munteanu, 2024. "The Prospects of the New VAT System in Europe in the Context of Digitisation and the Use of Blockchain," Springer Proceedings in Business and Economics, in: Alina Mihaela Dima & Sorin Vâlcea (ed.), Reshaping Power Dynamics Between Sustainable Growth and Technical Disruption, pages 131-141, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-58967-6_11
    DOI: 10.1007/978-3-031-58967-6_11
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