The Ministry of economy is considering Blockchain operation against tax fraud

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So it can go After the German government so far, according to critics, to little for the state recognition of Bitcoins, other currencies and the Blockchain does, could the disputed Cum-Ex-transactions in the Blockchain for the state itself to interesting Instrument to make.

Tax scandals bring the Blockchain to the political interest?

Even if the Federal government is currencies is quite the topic of Crypto on the Agenda of the coalition agreement has to criticize: Many crypto Fans, that is barely visible structures in this area. Ironically, the Ministry of economy of the Federation is bringing the Blockchain now, as a bureaucratic tool to the conversation: in the fight against tax fraud. It comes to the multi-billion dollar fraud in the area of the so-called Cum-Ex-transactions in which, for example, by skillfully moving of large parcels of shares illegally in high-Tax amounts to multiple parties, such as banks and investors have to be moved. The state’s enormous tax revenue miss for years. Countries like Thailand are already going down a possible path in the examination by means of the Blockchain.

Simple Transaction without confusion for fiscal authorities

The nested business models could be due to the Blockchain in the future is much more transparent for the authorities. In a statement, the state Secretary in the Federal Ministry of economy, the Blockchain can allow for a clear allocation of shares to their owner. This lack of Association allows offenders currently around the record date for dividend distributions, tax fraud, is an issue only in Germany. The technology could reveal who needs to pay taxes or have to go back to get it. Recipients of dividends could be made without confusion. The high security against forgery would benefit the Treasury.

So could the Blockchain and currencies such as Litecoin in a roundabout way, finally more attention than it is right now. Whether it will happen and when, is not known. All in all, this is a sign that the Blockchain and all the currencies based on it, will not be finally considered only as a Problem in politics. Who knows: At the end of the Blockchain is used in a few years at any German tax Declaration …

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