Blockchain－Based Business Registration Management Plan
Asian Tax Journal Vol. 22 No. 4 (2021), pp. 9-30
Abstract
Recently, due to the innovation of information and communication technology in the era of the 4th industrial revolution, the transaction structure has been diversified, and new types of transactions such as digital transactions and the sharing economy are being actively conducted outside of traditional commerce. However, the current business registration management method does not adequately respond to the rapid changes of the times. In addition, there is no integrated management of business registration information between major government departments, and there is an omission in understanding tax transaction information of business operators. Therefore, this study proposes the following plan to introduce a blockchain platform that can improve transparency, traceability, and reliability into the business registration management system. First, in the short term, it is a plan to introduce a private permissioned blockchain into the business registration management system. This is a distributed management method so that government departments authorized by the blockchain system administrator can share business registration information with each other. In the case of adopting this method, the National Tax Service does not manage business registration information in a centralized form as it is now, but instead distributes and manages business registration information through blockchain ledgers by government ministries, making quick policy decisions and transparency in budget execution, the reliability can be strengthened. Second, it is a plan to introduce a public permissioned blockchain in the medium and long term. This is a method in which the business operator authorized by the National Tax Service, which is a verification node of the blockchain, is set as a node, and the business operator’s tax transaction information is shared with each other. Because this method can capture tax sources by transparently managing the tax transaction details of business operators with blockchain, it is possible to achieve tax administration management for business operators more efficiently and to reduce investigation costs. This study is significant in that it presented a method to introduce a new technology called blockchain to business registration management to the tax authorities, business operators and tax agents.
Keywords
- Business registration
- Blockchain
- Digital economy
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