Standardization of Tax Reporting and Compliance: Exploring Necessity, Feasibility and Challenges in the Light of Recent Technological Developments

Beschreibung

Discussing the role of standardization in taxation and trying to find a link to possible technological applications within tax departments at the WU conference on Tax Technology. In sum it can be stated that standardization and harmonization of tax acts is a prerequisite for successful applications of technology in general, not only AI. But to achieve standardization less complexity is required within tax laws, standardization of processes, clear responsibilities, longer transition periods for new legal rules and a holistic solution on supranational level. So, actions on political level are crucial. Less complexity could also lead to machine-readable legislation. Tax technology and especially AI can help handle questions related to material law but as well procedural law issues. The technology is already here – Gen AI, AI agents, certain algorithms etc, there is nothing missing. But a solid basis for its implementation is missing in taxation. This means first of all tax departments must deal with and rethink data collection and data management in order to provide the technology with the raw material needed and to be able to exploit the full potential of it, and in this way saving time and reducing costs.

Zeitraum	10 Feb. 2025 → 11 Feb. 2025
Gehalten am	WU Wien, Österreich
Bekanntheitsgrad	International