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Canada Taxes Tech, Luxury Cars in First Full Budget Since 2019

April 19, 2021, 8:11 PM

Canadian Prime Minister Justin Trudeau wants to launch a new luxury tax, impose a digital tax on large businesses, and cut taxes for firms reducing greenhouse gas emissions under his budget plan released Monday.

The 2021 budget—the first comprehensive plan since before the pandemic started—also proposes to reform transfer pricing rules after a court ruling involving uranium miner Cameco Corp. upturned federal policy. It also targets hybrid mismatch arrangements by corporations and taxes unused foreign-owned housing.

Paying “our fair share of the collective burden” with solidarity will be important, Finance Minister Chrystia Freeland told the House of Commons...

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