Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland presents the federal government budget for fiscal year 2024-25, in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada, April 16, 2024. REUTERS/Patrick Doyle
OTTAWA, April 16 (Reuters) - 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. Negotiations though are dragging.
