Experts are advocating for the adoption of Artificial Intelligence (AI) in tax administration to improve efficiency and effectiveness. A recent roundtable discussion highlighted the potential benefits of AI in tax administration, including better taxpayer services, streamlined operations, and improved compliance.
*Benefits of AI in Tax Administration:*
- Improved Taxpayer Services: AI-powered chatbots can provide 24/7 support to taxpayers, helping them navigate tax filings and address concerns.
- Streamlined Operations: AI can automate manual processes, such as data entry and document processing, freeing up staff to focus on more complex tasks.
- Enhanced Compliance: AI-powered analytics can help identify potential tax evasion and non-compliance, enabling tax agencies to target their auditing efforts more effectively.
*Global Adoption of AI in Tax Administration:*
- A study by the Organization for Economic Cooperation and Development (OECD) found that 65% of tax administrations worldwide already use AI, with 40% using virtual assistants and over half using AI for risk assessment.
- Countries like Spain and Singapore are already leveraging AI-powered chatbots to provide taxpayer support and improve compliance.
Overall, the adoption of AI in tax administration has the potential to transform the way tax agencies operate, providing better services to taxpayers while improving efficiency and compliance.
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