Canada to introduce tax on digital giants despite opposition from US.

[CitizenVectron]

https://m.huffingtonpost.ca/entry/canada-digital-giants-tax_ca_5deec147e4b07f6835b7cba8

 

Quote

OTTAWA — Finance Minister Bill Morneau reaffirmed Monday that the Liberal government will move ahead to introduce a new tax on digital giants, despite possible blowback from the United States.

 

The policy commitment comes one week after U.S. officials threatened sanctions on France — including possible tariffs up to 100 per cent on French wine and cheese — after concluding in a report that the country’s digital giants tax “discriminates against U.S. companies” such as Google, Apple, Facebook, and Amazon.

 

“We’ve been very clear that we want to make sure that digital companies pay their fair share of taxes in our country,” Morneau said.

The Liberals pledged during the election campaign to introduce a three per cent tax on large, digital companies that record more than $1 billion in international revenues.

 

Implementing the measure could generate $540 million in new revenue in the next fiscal year, rising to $730 million in 2023-2024, according to projections in the Liberal platform.

 

Good.

[Guest]

This is a dumb idea, but there isn’t a good solution and I shed no tears for the affected companies.

[Firewithin]