Share this Story: Canada could face U.S. tariff 'retaliation' over proposed tax on digital servicesCanada could face U.S. tariff 'retaliation' over proposed tax on digital services The U.S. is proposing tariffs of up to 25%, which would collect duties equivalent to what affected countries collect from American companies through their digital taxes Photo by ReutersArticle content A tax on tech giants’ digital services the Liberal government has promised to include in the upcoming budget has the potential to evoke retaliatory tariffs from the United States. Article content Canada is set to provide more details on a new corporate tax for digital services in the federal budget on April 19. That’s in addition to extending sales taxes to foreign digital services, such as Netflix, a move that takes effect on July 1. What that means for Canada’s promised unilateral tax is unclear. Out of concern that they’re missing out on tax revenues, many countries have begun “coming up with their own unilateral tax measures,” he said.

Source: National Post April 05, 2021 22:49 UTC