Canada announces digital tax from 2022

Canada announces digital tax from 2022
Canadian Treasury Secretary Christia Freeland

The digital tax will ensure that large multinational tech companies, like any other company in the country, make a fair contribution, Freeland said.


(Photo: Reuters)

Ottawa Canada wants to implement its own digital tax from 2022 until a global regulation is reached. The Treasury Department announced on Monday that the equivalent of US $ 2.6 billion should be earned in five years. “Canadians want a fair tax system, one where everyone pays their fair share,” Treasury Secretary Christia Freeland told lawmakers in their autumn economic report. The tax will ensure that large multinational tech companies, like any other company in the country, contribute appropriately. Details are to be drafted in the budget.

Under the umbrella of the Organization of Industrial Countries OECD, around 140 countries have come together to adapt their tax laws in the digital age. How many digital services can a global minimum tax and which country a new distribution plan. However, important details are still open and should be clarified by mid-2021.

France also recently announced its digital tax. This is especially likely to happen with large US corporations. Facebook And Adventuress Miles. Even the European Union Commission does not refuse to do it alone.

more: OECD’s billion dollar tax revolution new opportunity

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