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Canada Plans to Impose Digital Tax on Tech Giants such as Facebook and Google from 2022
Summary: The Canadian Ministry of Finance said on Monday that Canada plans to levy taxes on companies that provide digital services from 2022 until major countries propose a unified taxation plan. The Organization for Economic Cooperation and Development is working on a common way to ensure that digital giants such as Alphabet's Google and Facebook can ...
The Canadian Ministry of Finance said on Monday that Canada plans to levy taxes on companies that provide digital services from 2022 until major countries propose a unified taxation plan. The Organization for Economic Cooperation and Development is working on a common way to ensure that digital giants such as Alphabet's Google and Facebook can pay their taxes and fees when the national budget is affected by COVID-19. The new tax will take effect on January 1, 2022, until an agreement is reached. Starting from the 2021-2022 fiscal year, this measure will increase federal government revenue by 3.4 billion Canadian dollars (2.6 billion US dollars) within five years.
By Amy Liu
Tags: Canada,Digital tax,tech giants
Link: Canada Plans to Impose Digital Tax on Tech Giants such as Facebook and Google from 2022 [Copy]
