Tax Law in the face of a new virtual reality: blockchain technology applied to smart contracts

Abstract

Blockchain is a disruptive technology that has multiple applications in the public and private sectors. One of its many functionalities is to support smart contracts that can be executed without human intervention, but there are numerous questions that this novel formula of digital economy raises for tax law. The purpose of this paper is to analyze the main challenges, problems and opportunities that arise not only for taxpayers who use blockchain to constitute and develop smart contracts, but also for the tax administration.