Gov't Will Find A Way To Tax Online Businesses - Ofori-Atta

The Finance Minister Ken Ofori-Atta says the government is finding ways to tax online businesses.

He said the operations of online businesses and some financial technology firms or Fintechs is a worry for the government though it is finding a way out.

Mr Ofori-Atta, therefore, called on technology firms to come up with innovative solutions in getting the tech industry pay the necessary taxes to the state.

He made the remark in an interview after the closing ceremony for the ‘Future of work in sub-Saharan Africa’ moderated by the Managing Director of the International Monetary Fund, Christian Lagarde.

“Taxing them is really a challenge but we have to find a way to do it because it is happening and I must say that business really exists” he noted.

He is however confident that the move by the Ghana Revenue Authority to get every citizen a Tax Identification Number, (TIN) will be a major channel to help in rolling out an innovative strategy for the process.

“It’s like the informal sector, how do we get them to pay the necessary tax to the state? This is the beginning of the registration for the Tax Identification Number we need to find a way to enter into that tech business,” he concluded.

On her part, Managing Director of the IMF, Christian Lagarde charged the government to ensure that domestic mobilization is not destructive to small businesses.

“Let me say that there is a need for a sustainable domestic mobilization but it should be constructive rather than being destructive to the businesses. We must grow our local; businesses,” Lagarde said.

Other members of the closing panel include Ethel Cofie, Founder of Edel Technology Consulting, Rebecca Enonchong, Chief Executive of AppsTech Cameroon and Michaella Rugwizangoga, Chief Executive of VW Mobility Solutions, Rwanda.

Source: JoyBusiness