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Canada to Impose Taxes on Digital Giants

Canadian Finance Department reported Canada’s plan for imposing taxes on digital corporations like Google and Facebook as of 2022; it will be in place until a shared policy is reached. The Organization for Economic Cooperation and Development, OECD, tries to reach a joint approach to guarantee Google and Facebook will pay their taxes. This has caused a potential tit for tat on the American side. Chrystia Freeland, Canada’s Finance Minister, said Canada claims a fair tax system in which everyone would be charged fairly. If required, it will impose taxes on digital giants one-sidedly, she added. On account of this, foreign sellers who are not present in the country must pay taxes on selling goods like cell phone applications, and online gaming. However, “digital rental platforms” won’t need to exact taxes. The plan helps Canada's federal revenues increase by C$3.4 billion in five years. Samira H.
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By Samira Hassanzadeh on October 19, 2021

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