Taxes, taxes — governments sure love taxes. And Canada plans to introduce a digital services tax on large technology companies such as Apple, reports Reuters.
It would raise C$5.9 billion (about US$4.3 billion) over the five years starting fiscal year 2024/25. The article says that Canada has held off for two years on approving the tax to allow for the conclusion of talks on a global treaty on taxing multinationals. Negotiations though are dragging, says Reuters. Washington opposes the plan on the grounds that it unfairly singles out U.S. firms.
