Venue / Hotel
This paper examines the opportunities, challenges, and implications associated with the use of AI in Taxation. AI plays an important role in shaping the tax system in the ever-changing tax regulations and laws, where compliance is the main component of success and a critical driver of trust. The research highlights the importance of human involvement, understanding and responding to regulatory changes, and oversight to enhance accuracy, productivity, and compliance in AI-driven tax processes. Furthermore, it emphasizes the need for a well-balanced strategy to capture AI's benefits while mitigating undesirable effects related to fairness, accountability, privacy, and transparency.