Business News of Thursday, 30 May 2024
Source: Joy Business
Tax consultant Francis Timore Boi has cast doubt government’s intention to tax global tech giants like Google, YouTube, X, and Facebook.
While Minister Ursula Owusu Ekuful has announced a draft policy for taxing these companies, Timore Boi argued that individual African countries face significant challenges in enforcing such laws.
He suggested that a collaborative approach among African nations would be more effective.
Highlighting the technical and cooperative hurdles, he emphasised the need for a holistic policy to ensure compliance and maximise revenue from these tech firms, which generate substantial income from African users despite lacking physical offices in the continent.