The Resource Blockchain and smart contracts : a look at the future of transfer pricing control

Blockchain and smart contracts : a look at the future of transfer pricing control

Label
Blockchain and smart contracts : a look at the future of transfer pricing control
Title
Blockchain and smart contracts : a look at the future of transfer pricing control
Creator
Subject
Language
  • eng
  • eng
Summary
This article discusses the future of transfer pricing (TP) control by exploring the new possibilities of blockchain and smart contracts and their potential impact on the international and European policy debate. After the introduction of some preliminary concepts, the first outcome is the identification of a uniform methodology for coding advance pricing agreements (APAs) into smart contracts in which conventional elements properly match with computer language components. Despite the challenges of the coding process and the issue of legal prose, the research also approaches the dynamics and the different stages of a new smart system for TP control. Furthermore, the analysis covers the policy perspective and explores how the new technology could improve the outcomes of the recent OECD and European Commission initiatives in the area of TP. Ultimately, the study suggests the adoption of uniform rules for coding APAs into smart contracts and the establishment of an international consortium blockchain. However, other factors will also be crucial for the implementation of the new system including the collection of sufficient supply chain data and the adoption of an interdisciplinary approach that is open to software engineering and data science
Citation source
In: Intertax. - Alphen aan den Rijn. - Vol. 49 (2021), no. 4 ; p. 313-330
http://library.link/vocab/creatorName
Cipollini, C
Geographic coverage
  • Europe
  • International
Language note
English
http://library.link/vocab/subjectName
  • transfer pricing
  • control
  • APA
  • blockchain
  • software
  • tax technology
Label
Blockchain and smart contracts : a look at the future of transfer pricing control
Link
https://library.ibfd.org/custom/web/SD_PDF/scans/2021/G-I/INTERTAX/4_313-330.pdf
Publication
Note
20210317

Library Locations

    • IBFD Library AmsterdamBorrow it
      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.3736660 4.9336932
Processing Feedback ...