Data Tech International attended the FTA (Federation of Tax Administrators) Technology and Exhibition and conference in Indianapolis. At this conference, the attendees discussed tax fraud and evasion as a worldwide phenomenon. As many tax authorities are fighting back even now by implementing digital technologies, USA authorities are discussing whether these models can be used in the local communities as well.
The list of attendees was wide and both government and non-government officials attended. A lot of revenue compliance officers from states such as Alabama, California, Arkansas, Idaho, and many other states took part in the conference.
Mr. Goran Todorov from Data Tech International and Mr. David Deputy from Vertex presented together on the topic “Securing Fiscalization via Digitization.” The point of their paper was on how much tax-loss there was from tax evasions and how in most countries these units can be measured in billions; the USA being no exception.
Using modern technology is probably the most powerful tool against tax evasion and tax fraud. Moreover, there were even a lot of big, international companies that took advantage of poor tax collecting laws in many countries. Proving the point that no one is quite immune to this. With systems like TaxCore, illegal practices like these can be fully brought to a halt as tax authorities have the full picture of how abiding corporations are.