On October 8, following the announcement the same day of the international agreement reached by the Organisation for Economic Co-operation and Development (OECD) on the core design features of the two-pillar solution developed in the Base Erosion and Profit Shifting (BEPS) 2.0 project, Deputy Prime Minister and Finance Minister Chrystia Freeland issued a statement confirming that the federal government intends nevertheless to move ahead with legislation finalizing the enactment of a Digital Services Tax (DST) by January 1, 2022. This step is in keeping with a proposal first announced in the 2020 Fall Economic Statement and again in Budget 2021. However, the statement added that the DST would only be imposed as of January 1, 2024, rather than January 1, 2022 (as originally announced), and only if the convention implementing the BEPS 2.0 tax regime under the international agreement has not come into force by December 31, 2023.
Source EY
Latest Posts in "Canada"
- Importer of Record to Share Joint Liability for Customs Duties and Taxes Starting January 2026
- Canadian House of Commons Considers Bill C-15 on Tax Measures and GST/HST Coupon Restrictions
- Canada Scraps Digital Services Tax in Budget Implementation Bill
- Canada’s 2025 Budget Introduces Reverse Charge to Combat GST Carousel Fraud in Telecom Sector
- Canada’s 2025 Budget Introduces GST/HST Reverse Charge to Combat Supply Chain Carousel Fraud
