The latest addition to our series of brief insights into the workings of the UK and supranational bodies reviewing the taxation of digitalisation of business.
17 April 2024
Canada's Budget reaffirms DST proposals
Canada’s Budget on 16 April 2024 reaffirmed the Government's commitment to bringing Pillar One into effect as soon as a critical mass of countries is willing to participate. In the meantime, Canada is moving ahead with its plan to enact the Digital Services Tax (DST). Implementing legislation for the DST is currently before Parliament in Bill C-59. The DST will take effect beginning in calendar year 2024, with the first year covering taxable revenues earned since 1 January 2022 (see our update for December 2023).
The DST is estimated by the Canadian tax authorities to bring in CA$5.9 billion (US $4.3 billion) over five years.
