The Hill Times
A recent report boosting the estimated windfall Canada could rake in from a proposed tax on digital services, despite protests from international allies, could lead the feds to counting its chickens before they’ve hatched, says law expert Michael Geist. According to a revised Parliamentary Budget Officer report released on Oct. 17, the proposed digital services tax—set to come into force on Jan. 1, 2024, and apply retroactively to the beginning of 2022—would raise $7.2-billion over five years.
” Additionally, Geist cautioned that any potential pushback would likely be designed to nullify any financial benefits while targeting those sectors that would cause the most amount of “economic pain,” pointing to the Americans' response to France’s implementation of its own digital services tax by applying tariffs to French handbags, cosmetics, and other luxury goods. “The government would be best off really putting most of its eggs in a global-solution basket,” Geist explained.
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