Canada is sticking with a planned tax on big tech the U.S. opposes
BNN Bloomberg
Canada still plans to introduce a digital services tax in 2024 despite U.S. opposition, Finance Minister Chrystia Freeland said.
Freeland, speaking by phone from the Group of 20 finance ministers’ meeting in India, said Canada had already made a “significant concession” in 2020 by agreeing to delay its plan for the new tax.
“Canada’s position is unchanged,” she told reporters. “It is really important for us to defend our national interests, and what we agreed to was a two-year pause.”
Her government has pledged to implement a new DST in early 2024, which would apply retroactively to Jan. 1, 2022 unless a global tax agreement is ratified by the Organization for Economic Cooperation and Development countries. The Canadian proposal would see a 3 per cent tax on revenue earned by large technology companies in Canada.
