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Canada's Digital Services Tax To Stay In Place Despite G7 Deal
An anonymous reader quotes a report from Bloomberg: Canada is proceeding with its digital services tax on technology companies such as Meta despite a Group of Seven agreement that resulted in removing the Section 899 "revenge tax" proposal from U.S. President Donald Trump's tax bill. The first payme...
[...] Finance Minister Francois-Philippe Champagne suggested to reporters last week that the digital tax may be negotiated as part of broader, ongoing U.S.-Canada trade discussions. A group of 21 members of U.S. Congress wrote to Trump earlier this month asking him to push for the tax's removal, estimating the June 30 payment will cost U.S. companies $2 billion. Earlier today, President Trump said the U.S. is immediately ending trade talks with Canada in response to the tax, calling it a "direct and blatant attack on our country."
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