Tax authority FS plans to implement blockchain

The tax authority FS will be the first public institution in Slovakia to implement blockchain into its processes, said its president František Imrecze. He wants blockchain to simplify the life of FS and tax payers. The first area in which blockchain’s application will be of help is assigning 2% of the paid income tax to NGOs. Imrecze believes blockchain will improve the trust of tax payers, protection of their data and transparency as well as cut costs. Analysts doubt FS can achieve this.

(HN/1)