A study on adoption of blockchain-based VAT e-Invoicing system among tax managers in China / Feng Yueyang

Feng , Yueyang (2024) A study on adoption of blockchain-based VAT e-Invoicing system among tax managers in China / Feng Yueyang. Masters thesis, Universiti Malaya.

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Abstract

Electronic invoicing has emerged as a streamlined and efficient alternative to traditional paper-based invoicing, bringing about enhanced business operations, accountability, and reduced manual invoicing costs. The integration of Blockchain technology has further bolstered the efficiency and security of electronic invoicing. Despite its manifold advantages, the adoption of electronic invoicing systems by companies remains modest. This study aimed to discern the determinants influencing the adoption of the Blockchainbased VAT e-invoicing system in firms by employing the Unified Theory of Acceptance and Use of Technology (UTAUT) model. A survey was conducted among 312 enterprises that had already embraced electronic invoicing. Data analysis was performed using the SPSS software, encompassing Facilitating Conditions, Performance Expectancy, Effort Expectancy, Social Influence, Perceived Fairness, Tax Compliance Cost, and Regulatory Support. The investigation affirmed that these factors exerted a positive or negative impact on the acceptance of the Blockchain-based VAT e-invoicing system. Among these factors, social influence emerged as the most influential, signifying the power of peer opinions, expectations, and behaviours in an individual's adoption of a technology or system. Notably, this study was confined to companies that had already adopted the Blockchain-based VAT e-invoicing system. To enhance the depth of inquiry, future research could differentiate between adopters and non-adopters, elucidating the factors that either foster or hinder adoption. This differentiation could unveil subgroups within each category, facilitating the exploration of variations in attitudes, behaviours, and perceptions. Such an approach would yield refined theoretical frameworks and tailored interventions. The study's insights have potential implications for tax authorities and e-invoicing providers, aiding in the promotion of system adoption. Practically, this study furnishes guidance to tax authorities and e-invoicing providers in propelling the adoption of the Blockchain-based VAT einvoicing system. By pinpointing key factors, tax authorities can devise targeted strategies for improved acceptance. The study underscores the technology's capacity to yield tangible advantages for both enterprises and tax authorities. It enhances compliance, transparency, and operational efficiency for tax authorities, while companies benefit from reduced costs and heightened operational efficacy. In summation, this study offers substantial contributions. It guides e-invoicing providers and tax authorities in advancing the Blockchain-based VAT e-invoicing system's adoption. Moreover, through the identification of influential determinants, it enables the construction of specialized tactics for heightened system acceptance. Ultimately, the study underscores the potential for technology-driven solutions to yield mutually beneficial outcomes for enterprises and tax authorities alike.

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