Canada to push ahead with digital services tax on global tech firms starting 2024

Canada will press ahead with introduction of a digital services tax on large technology companies, which would raise C$5.9 billion ($4.3 billion) over the five years starting fiscal 2024/25, the federal budget showed on Tuesday. Canada, seeking to address the challenge of taxing digital giants like Google parent Alphabet and Amazon.com that can book their profits in low-tax countries, had held off for two years to allow for the conclusion of talks on a global treaty on taxing multinationals.