THE new digital economy has created tax loopholes that make it challenging for policymakers to enforce compliance while depriving the state of vital resources for national development, a senior treasury official has said.
Technological advancements have created new business opportunities while presenting challenges to traditional tax systems.
Speaking at the Annual Tax Review Breakfast Meeting hosted by The Financial Gazette, the director of revenue and tax policy in the Finance ministry, Grace Muzondo, bemoaned the skills gap in confronting the digital economy.