As part of efforts to ensure that Ghana fully benefits from digital economy trends, stakeholders in the finance sector have asked the government to set up specific rules and regulations to govern the operations of online platforms and businesses.
According to them, this will make it easier for the regulatory bodies to monitor such platforms and tax them appropriately, hence increasing revenue for the country.
The President of the Chartered Global Investment Analyst (CGIA) Network, Enoch Wontumi, spoke to Citi Business News on the sidelines of a journalists’ workshop on Saturday, February 20, 2021.
He stated that, “One of the most important things that we should be looking at is first regulation. We have transfer pricing issues in the economy. For example, with the issue concerning Netflix. These are people within the country. And that revenue that is being derived from citizens of Ghana using Netflix should to some extent be subject to taxation. But there’s nothing we are doing about it and Ghana is not benefiting from that revenue.”
“So when it comes to digitization, I believe that the rules for digitization should be set very well by the regulatory bodies,” Mr. Wontumi added.
The workshop, which took place at the Erata Hotel in East Legon, brought together several business and financial journalists to learn about the fast-moving digital economy across the world.
It was done under the theme, “Finance and Investment in a Digital Age; Journalists’ perspective”.
During his presentation, the Vice-President of the CGIA Network, Isaac Charles Acquah stressed on the need for journalists to be abreast with current business trends especially now that there are significant transitions in the digital space.
The Chartered Global Investment Analyst Institute is the world’s largest and globally recognized professional body providing approved designation for the investment and financial services industry.
The Institute provides the Chartered Global Investment Analyst (CGIA) designation and the CGIA Foundational Program (CFP) Certificate.
The CGIA Institute is headquartered in New York, USA.
