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.
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.
U.S. Trade Representative Katherine Tai has asked Canada not to bring in its own DST, and business groups have expressed concern over potential trade repercussions if Canada ignores the American warnings.
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Source: BloombergCA - 🏆 73. / 51 Read more »