Tryphon 🌂 is a user on You can follow them or interact with them if you have an account anywhere in the fediverse. If you don't, you can sign up here.
Tryphon 🌂 @Tryphon

As I understand it, tax authorities are unable to effectively audit the accounting of large companies because it’s so big and complex.

So how are national authorities going to review compliance, which could arguably be even more complex and harder to circumscribe?

· Web · 2 · 3

@Tryphon That one's easy enough: authorities don't review compliance spontaneously (high cost for no gain), but fine / try those found non-compliant (some chances of getting some money out of it).

@aaribaud okay, and how/by whom are they “found” to be non-compliant?

@Tryphon Same as for just about any infraction / misdemeanour / felony / etc: by getting caugh or at least exposed.

Of course, one needs to catch or expose them. But that's nothing new: every legal system on Earth, and probably elsewhere, relies on the infraction etc. being discovered. At least, now, when some company handles our data carelessly, said carelessness is a breach of law -- that's some progress.

@Tryphon probably same way governments have had "success" at enforcing crypto taxation amongst those who do p2p transactions and/or use non KYC exchanges… #lulz