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ACCA sues for caution in digitisation of tax collections



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The Association of Chartered Certified Accountants ( ACCA)  says the current shift in the digitalisation of the global economy is an avenue given  to national tax collectors to make a change for the efficiency of their processes .

The Association of Chartered Certified Accountants ( ACCA) Noted that  the tax administrators have always looked to the latest technological improvement t aid the effective collection of taxes from the population , the accounting body and warned against regulatory constraints and stifling of growth .

The body said that just as the digital tools can be helpful in handlingin tax administrations , the development and implementation of technological innovation in the private sector is imperative to improve performance .

ACCA called on tax administrators to manage the risk of imposing restrictive technological requirements on taxpayers , as the extreme regulatory constraints could hinder the opportunity of the business to exploit technology which is efficient, whic cobusinesseso a setback in growth.

ACCA’ s Head of Business and Tax Law , Jason Piper however explained that businesses have different  mode of operations and the circumstances or business environment determines how each business will employ its digital tools stressing that no two business's will make use of identical solution.

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