Canada’s Digital Services Tax Projected to Raise C$7.2B by 2028

Canada’s proposed tax on big technology firms could raise as much as C$7.2 billion ($5.3 billion) over five fiscal years, according to a new projection from a parliamentary spending watchdog.

• Finance Minister Chrystia Freeland has pledged to bring in a digital services tax by Jan. 1, 2024 — and make it retroactive to January 2022 — if an OECD global tax agreement on digital services isn’t implemented
• The US government has repeatedly warned Canada not to implement the new tax, warning it may retaliate with trade measures
• The new projection from Canada’s parliamentary budget officer is based on revised draft ...