Davis Ansah Opoku, Member of Parliament for Mpraeso, has sounded the alarm on the need for tax compliance among multinational social media companies operating in Ghana. Apexnewsgh reports
Speaking in Parliament, Opoku expressed concern over the Ghana Revenue Authority’s (GRA) struggles to collect taxes from these digital giants, despite their significant financial activities in the country.
Opoku emphasized that while Ghana embraces digitalization to boost revenue collection, it’s essential to ensure the country reaps financial benefits from digital transactions. “If social media platforms generate revenue within our economy, they must meet their tax obligations,” he stated.
Opoku’s remarks came during a discussion on the need for stronger regulations in Ghana’s digital economy, initiated by Dr. Zanetor Agyeman-Rawlings, MP for Klottey Korle, and Kennedy Osei Nyarko, MP for Akim Swedru. Samuel Nartey George, Minister for Communication, also contributed to the discussion.
Opoku stressed that the revenues generated from taxing these multinational companies could fund critical national development projects, such as road infrastructure in his constituency and across the country. He called for a structured approach to prevent Ghana from losing out on these essential financial inflows.
Ghana’s tax challenges are not new, with concerns over low tax compliance and suboptimal revenue generation persisting over the years. The country’s corporate tax gap is significant, and addressing tax avoidance and evasion is crucial to boosting revenue.
By enforcing tax compliance on multinational social media companies, Ghana can ensure a more equitable distribution of wealth and fund critical development projects.
Source: Apexnewsgh.com
