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The US Trade Representative object to Canada’s unilateral Digital Services Tax.
Canada first proposed the legislation in 2021 as an interim measure, following a statement from the G20 allowing for international digital service tax (DST) reform. The G20 countries have been working together to create a multilateral tax on profits made by global tech companies through services, but progress has been slow.
Canada and other countries want to be able to impose taxes on profits made from online marketplace services, advertising services, social media services, and revenue made from selling user data. To qualify under the Canadian law, a tech company would have to have made $750 million or more in qualifying revenue per year, of which at least $20 million would have come directly from Canadian users.
Go Here to Read this Fast! US fights Canada over new tech tax that could cost Apple billions
Originally appeared here:
US fights Canada over new tech tax that could cost Apple billions
