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Austria Uses AI to Generate Additional Tax Revenue

14 August 2024

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Approved Changes

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Austria

The Austrian Ministry of Finance has issued a release on the use of artificial intelligence to generate around EUR 185 million in tax revenue in 2023 from income tax, corporation tax, and value added tax. --- Brunner: Ministry of Finance generated around EUR 185 million in tax income from AI in 2023 Annual balance sheet 2023 of the Predictive Analytics Competence Centre at the BMF is available The Predictive Analytics Competence Centre (PACC), a special unit within the Ministry of Finance, uses predictive analytics and artificial intelligence to detect tax evasion and identify specific entrepreneurs and individuals. In 2023, the...