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Globe says Netflix, others hear call to pause the DST

2024-11-04 07:50 ET - In the News

See In the News (C-NFLX) Netflix CDR (CAD Hedged)

The Globe and Mail reports in its Monday, Nov. 4, edition that the Ontario government is urging Ottawa to suspend its digital services tax (DST). The Globe's Laura Stone writes that Premier Doug Ford says American lawmakers are upset with Canada over this issue. The province's fall economic statement warns that the tax may negatively affect Canadian citizens and businesses. Ontario trade representative David Paterson pointed out that the retroactive nature of the tax and Canada's decision to implement it before a global framework is in place are particularly aggravating to Americans. The federal government, however, is defending the new 3-per-cent levy, which is largely aimed at American tech giants such as Amazon, Alphabet's Google, Netflix and Spotify. The Liberal government first proposed a digital services tax four years ago but delayed its implementation in the hope that an international deal would be reached. The tax is strongly opposed by business groups and the Joe Biden administration. Canada passed the DST into law last summer, set to take effect next June but is retroactive to January, 2022. Business groups argue it will raise costs for consumers and could lead to billions in retaliatory trade measures.

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