Parliamentary Committee discusses necessity for proper mechanism to regulate online businesses

COLOMBO (News 1st) - The need for a proper mechanism to regulate online business has been discussed in the Parliamentary Committee to raise the value of the Ease of Doing Business Index.

The discussions were conducted when the committee convened in Parliament recently. 

There is still no formal mechanism to regulate business activities conducted on the Internet, tax payments of companies involved in them, and many other factors.

The committee discussed the necessity for steps to be taken in this regard.

It has also been suggested that a legal framework as well as a digital service tax should be introduced to regulate these businesses.

Meanwhile, the need to promote digital transactions instead of currency notes and coins was also discussed in the Parliamentary Committee to raise the value of the Ease of Doing Business Index.