KUALA LUMPUR – Jan 16, 2017: An economist is in favour of the government’s initiative to review all cyber-related laws to boost the local Internet economy.
Professor Dr. Zulkifli Senteri of Binary University of Management and Entrepreneurship told The Mole that well-devised laws are much needed to regulate the risks and challenges that come with businesses, particularly those based on digital computing technologies.
He was responding to the statement by Communications and Multimedia Minister Datuk Seri Salleh Said Keruak on Saturday that cyber-related laws are being looked at in a holistic manner to improve online environment for digital business players.
The minister wrote at his blog that the review takes into consideration the need to improve security and build greater trust in existing networks, as an increase in transactions will attract more risks.
In response, the economist thinks that such a review is needed, adding that current laws regulating digital trading are too lenient.
“Internet economy comes with risks, ranging from the misuse of the digital infrastructure to the issue of taxation.
“The misuse may include crimes… some may be as simple as cheating customers. Under such instances, we must know the rules and regulations that are required to overcome the challenges.
“Additionally, the government needs well-devised laws to oversee tax imposition to online business players, which could be a lot more demanding, compared to taxation on tangible business companies.”
However, Zulkifli insists that the review should be of a win-win situation and will not impose a burden to Internet businesses.
“It should not be to the extent of killing the businesses, although we are fully aware that there are a lot of misuses in terms of the handling of digital commerce.
“It is pivotal for us to facilitate the growth of Internet economy in the country, and reviewing laws and regulations will boost people’s confidence to participate in the businesses.”