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.
Article provided with permission from AppleWorld.Today
