Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Microsoft Corporation    MSFT

MICROSOFT CORPORATION

(MSFT)
  Report
Delayed Quote. Delayed Nasdaq - 11/25 04:00:00 pm
213.87 USD   +0.00%
04:30pAmazon Web Services Hit by Outage -- Update
DJ
09:06aMICROSOFT : MainOne, Microsoft Collaborate On Cloud Services
AQ
02:31aSalesforce in talks to acquire workplace app Slack - sources
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Microsoft : Could blockchain become government's best ally in driving tax compliance?

04/16/2019 | 12:08pm EST

Most people readily associate blockchain with cryptocurrencies, whose surges and crashes in value have generated speculation, headlines, and hype. But more and more practical applications are emerging in industry and government alike. Our latest whitepaper Blockchain for Tax Compliance explores in detail how governments can use blockchain to make tax compliance more robust and efficient for themselves, companies, and the public.

As governments work to tackle huge societal issues around the world-such as changing climates, demographics, and working practices-efficient tax compliance systems enable them to optimize the resources available and have a bigger impact on their country and the citizens they serve.

Blockchain explained in 20 seconds

Blockchain is a ledger that can be added to but not modified, making it very secure. Each entry is secured into blocks of entries, and each new block is linked to the previous one. Blockchain is historically known as a core part of the digital currency bitcoin but can be used for any transaction of value.

More than just bitcoin

While bitcoin has flown the flag for blockchain over the past decade, governments the world over are finding ways to track, trace, and build more trust into existing processes. In the United Kingdom, for example, the Food Standards Agency is piloting blockchain in a cattle slaughterhouse to improve transparency and compliance in the food chain. And in the United States, the Food and Drug Administration is exploring blockchain as a means of securing medical research data.

Building trust between governments and the public

Security, trust, and transparency are some of the main benefits of using blockchain, making it well suited to tax compliance. Because blockchain is an objective, mutually agreed-upon record of transactions, multiple parties can verify every step of a process. And it's gaining traction: in November 2018, the European Parliament Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance (TAX3) published a draft report which contains recommendations on fighting cross-border VAT (value-added tax) fraud. The report encourages member-states to explore the possibility of a plan to place cross-border transactional data on a blockchain and to use a secure digital currency that can only be used for VAT payments.

Reducing fraud, saving money

The authors of our white paper estimate the global tax gap -the difference between what is owed and what governments manage to collect-to be around $1.6 trillion. The global cost of collection is estimated at $1.3 trillion.

Blockchain offers enormous possibilities for governments to not only reduce that gap, but to reduce the cost of their tax-collecting operations, too. By allowing peer-to-peer transactions, blockchain reduces the cost of third-party transaction brokers.

Also, blockchain enables the use of 'smart contracts.' Think of a smart contract as an automated set of rules between parties, which won't allow steps in a process to happen until the previous process is verified as complete. So, for example, a company could automatically record events like transactions, purchases, and salary payments, and pay its tax bill based on what's actually occurred rather than having accountants derive a figure from thousands of records. The reduction in time for both governments and organizations could be substantial.

Use cases for blockchain go beyond taxation

In part 2 of the white paper, we examine in depth how blockchain can help provide a tax infrastructure to stimulate ecotourism. This infrastructure would be especially relevant to regions with natural and historic sites that attract visitors, providing a boost to the emerging local and national economies. These visitors, however, can bring unwanted side effects, including increased pollution and noise, in addition to contributing to economic and social inequalities within destination countries.

By imposing a tourism levy on services-which could be a tax on travel or hotels, for example, or even a voluntary contribution-governments could raise funds to reduce the negative impacts of tourism while sustaining and promoting it.

A transparent ecosystem for public spending

And where does blockchain come into play? Blockchain works as a secure way of ring-fencing the collected tax funds to ensure that they are exclusively used for their intended purpose. In fact, through smart contracts, blockchain can increase the transparency of the entire ecotourism sector in a country. Tourists will be able to see where their tax contributions end up-and could even be allowed to select which projects receive funding or propose ideas for how the money could be spent. Through an app or website, they will be able to track the progress of projects through to completion, with complete transparency on spending.

The system could also incorporate contractors and project auditors to handle the processes of bidding for work and quality assurance. Records of tenders, bids, and audits could be tracked on a blockchain, with contractors being scored according to the quality of their work.

By logging the entire funding and development flow of ecotourism projects on a blockchain, with no risk of data being manipulated, all parties gain greater assurance and transparency. Moreover, it helps ecotourism destinations achieve two of the Sustainable Development Goals set out by the United Nations in 2016. These goals specifically relate to building effective, accountable institutions and strengthening domestic resource mobilization by improving organizational capacity for tax collection.

Discover how blockchain could work for your tax administration

Download your free copy of our white paper Blockchain for Tax Compliance, which explores the benefits, considerations, and use cases of blockchain for tax compliance. And listen to our podcast episode on Taxation and Transparency to learn more about how blockchain has the potential to make tax payments more secure while AI can help to increase compliance and reduce fraud-with a measure of empathy.

Disclaimer

Microsoft Corporation published this content on 16 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 April 2019 16:07:03 UTC


© Publicnow 2019
All news about MICROSOFT CORPORATION
04:30pAmazon Web Services Hit by Outage -- Update
DJ
09:06aMICROSOFT : MainOne, Microsoft Collaborate On Cloud Services
AQ
02:31aSalesforce in talks to acquire workplace app Slack - sources
RE
11/25Amazon Web Services Hit by Outage -- Update
DJ
11/25Salesforce Is In Advanced Talks to Buy Slack, Sources Say -- 2nd Update
DJ
11/25Amazon Web Services Hit by Outage
DJ
11/25Salesforce in talks to acquire workplace app Slack -sources
RE
11/25THIERRY BRETON : EU's Breton
RE
11/25Wall Street's rise from pandemic lows has further to go, say strategists
RE
11/24WORLD UPDATE II : USA for Microsoft Flight Simulator now available for free
PU
More news
Financials (USD)
Sales 2021 158 B - -
Net income 2021 51 336 M - -
Net cash 2021 76 102 M - -
P/E ratio 2021 31,7x
Yield 2021 1,02%
Capitalization 1 617 B 1 617 B -
EV / Sales 2021 9,76x
EV / Sales 2022 8,71x
Nbr of Employees 163 000
Free-Float 99,9%
Chart MICROSOFT CORPORATION
Duration : Period :
Microsoft Corporation Technical Analysis Chart | MSFT | US5949181045 | MarketScreener
Technical analysis trends MICROSOFT CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 39
Average target price 242,47 $
Last Close Price 213,87 $
Spread / Highest target 30,0%
Spread / Average Target 13,4%
Spread / Lowest Target -15,8%
EPS Revisions
Managers
NameTitle
Satya Nadella Chief Executive Officer & Non-Independent Director
Bradford L. Smith President & Chief Legal Officer
John Wendell Thompson Independent Chairman
Kirk Koenigsbauer COO & VP-Experiences & Devices Group
Amy E. Hood Chief Financial Officer & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
MICROSOFT CORPORATION35.61%1 616 963
ZOOM VIDEO COMMUNICATIONS, INC.552.15%126 203
SEA LIMITED341.82%87 777
ATLASSIAN CORPORATION PLC79.78%53 915
DASSAULT SYSTÈMES SE4.26%47 441
AMADEUS IT GROUP, S.A.-15.44%33 009