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Scientific paper - Original scientific paper

Tax Compliance in the Era of Cryptocurrencies and CBDCs: The End of the Right to Privacy or No Reason for Concern?

EC Tax Review, 31 (2022), 1; 16-29. urn:nbn:hr:118:804292

Jozipović, Šime; Perkušić, Marko; Gadžo, Stjepan

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APA 6th Edition

Jozipović, Š., Perkušić, M. & Gadžo, S. (2022). Tax Compliance in the Era of Cryptocurrencies and CBDCs: The End of the Right to Privacy or No Reason for Concern?. EC Tax Review, 31. (1), 16-29. Retrieved from https://urn.nsk.hr/urn:nbn:hr:118:804292

MLA 8th Edition

Jozipović, Šime, et al. "Tax Compliance in the Era of Cryptocurrencies and CBDCs: The End of the Right to Privacy or No Reason for Concern?." EC Tax Review, vol. 31, no. 1, 2022, pp. 16-29. https://urn.nsk.hr/urn:nbn:hr:118:804292

Chicago 17th Edition

Jozipović, Šime, Marko Perkušić and Stjepan Gadžo. "Tax Compliance in the Era of Cryptocurrencies and CBDCs: The End of the Right to Privacy or No Reason for Concern?." EC Tax Review 31, no. 1 (2022): 16-29. https://urn.nsk.hr/urn:nbn:hr:118:804292

Harvard

Jozipović, Š., Perkušić, M. and Gadžo, S. (2022) 'Tax Compliance in the Era of Cryptocurrencies and CBDCs: The End of the Right to Privacy or No Reason for Concern?', EC Tax Review, 31(1), pp. 16-29. Available at: https://urn.nsk.hr/urn:nbn:hr:118:804292 (Accessed 02 July 2024)

Vancouver

Jozipović Š, Perkušić M, Gadžo S. Tax Compliance in the Era of Cryptocurrencies and CBDCs: The End of the Right to Privacy or No Reason for Concern?. EC Tax Review [Internet]. 2022 [cited 2024 July 02];31(1):16-29. Available at: https://urn.nsk.hr/urn:nbn:hr:118:804292

IEEE

Š. Jozipović, M. Perkušić and S. Gadžo, "Tax Compliance in the Era of Cryptocurrencies and CBDCs: The End of the Right to Privacy or No Reason for Concern?", EC Tax Review, vol. 31, no. 1, pp. 16-29, 2022. [Online]. Available at: https://urn.nsk.hr/urn:nbn:hr:118:804292. [Accessed: 02 July 2024]

Cite this item: https://urn.nsk.hr/urn:nbn:hr:118:804292

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Title (english)	Tax Compliance in the Era of Cryptocurrencies and CBDCs: The End of the Right to Privacy or No Reason for Concern?
Author	Šime Jozipović
Author	Marko Perkušić
Author	Stjepan Gadžo
Author's institution	University of Rijeka FACULTY OF LAW (Chair of Financial Law)
Scientific / art field, discipline and subdiscipline	SOCIAL SCIENCES Law
Abstract (english)	The new European regulatory framework for crypto- assets contains strict reporting requirements for EU-based crypto service providers, which will give tax authorities and law enforcement agencies better insights into a significant segment of the cryptoasset space. The article first outlines how this will inevitably lead to the creation of a parallel crypto-asset market focused on offline wallets and peer-to-peer services outside the supervision of EU and national tax authorities. The article then highlights the important role that the so-called Central Bank Digital Currencies (CBDCs) will play in this environment. The differences between CBDCs and crypto-assets are examined from a tax assessment perspective in order to show that true anonymity is considerably less of an issue with (price stable) CBDCs than with (volatile) crypto- assets. The authors argue that a truly anonymous digital euro wallet for small transactions on the consumer side could not only allow the effective monitoring of businesses, but would actually increase tax compliance. If consumers have access to an anonymous cash- equivalent digital means of payment, they will be less likely to use cash or virtual currency. This in turn will cause a significant increase in available transaction data, while simultaneously granting a much better protection of taxpayers’ rights to privacy in the EU.
Keywords (english)
Language	english
Publication type	Scientific paper - Original scientific paper
Publication status	Published
Peer review	Peer review - international
Publication version	Published version
Journal title	EC Tax Review
Numbering	vol. 31, no. 1, pp. 16-29
p-ISSN	0928-2750
URN:NBN	urn:nbn:hr:118:804292
Publication	2022
Document URL	http://bib.irb.hr/1176497
Type of resource	Text
Access conditions	Closed access
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Created on	2022-12-13 09:48:47