Champagne: Digital sales tax to go ahead despite Trump’s objections
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Canada is proceeding with a digital sales tax despite U.S. President Donald Trump’s objections, Finance Minister François-Philippe Champagne said June 19. That will go against U.S. demands in its current negotiations with Canada to reach a new economic and security deal. The tax will hit companies—including Amazon AMZN-Q, Alphabet GOOGL-Q, Meta META-Q, Uber UBER-N and Airbnb ABNB-Q—with a 3% levy on revenue from Canadian users, from digital services exceeding $20-million earned by companies with at least $1.1-billion in global revenue. U.S. companies will owe US$2-billion at the end of the month, and are expected to pay up to $2.3-billion annually.
