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Thailand's Excise Department Developing Blockchain Refund System For Oil Exporters

Janelle Fox

Summary: Thailand’s Excise Department is preparing to set up a blockchain-based tax refund system for oil exporters. The government is currently in talks with the Krungthai Bank to develop the system and adopt it by mid-2020, according to the Bangkok post. The system will allow for data to be accessed and verified with more speed and ...

Thailand’s Excise Department is preparing to set up a blockchain-based tax refund system for oil exporters.

The government is currently in talks with the Krungthai Bank to develop the system and adopt it by mid-2020, according to the Bangkok post. The system will allow for data to be accessed and verified with more speed and precision then before. This new system will also help inspect tax payments thoroughly

By Janelle Fox

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