Tax authorities face an uphill battle in keeping pace with this rapid digitalisation To mitigate these challenges, businesses must adapt and evolve By Shiladitya Dash The digital age, propelled by leaps in Information, Communication, and Technology (ICT), has revolutionized global economies. This seismic shift has not only redefined the traditional boundaries of commerce but has also introduced innovative business models. The digital era offers unprecedented opportunities for global trade, yet simultaneously presents unique, complex tax -related challenges that businesses and tax authorities must address. Challenges in the Digital Economy Also Read How AI startups are contributing to environment and social impact How AI startups are contributing to environment and social impact Digital supervision and cybersecurity in BFSI Digital supervision and cybersecurity in BFSI In the era of the creator economy, what comes next for NFTs and Web3.0 For businesses, especially those that have transcended into the digital space, new tax landscapes come with their own share of complexities. Traditional tax laws, crafted for a less connected world, fall short in addressing the nuances of a digitalized economy. Companies can now generate global revenue without a significant physical presence, which muddles the waters of jurisdiction and taxation. Moreover, the digital […]
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