Canada Plans Digital Tax in 2022 on Global Tech Giants Such as Facebook, Google | Technology News

OTTAWA (Reuters) – Canada plans to impose a tax on corporations providing digital services from 2022 that will stay in place until major nations come up with a coordinated approach on taxation, the Finance Department said on Monday.

The Organisation for Economic Cooperation and Development is working on a common approach to ensure digital behemoths, such as Alphabet Inc’s Google and Facebook Inc, pay their share of taxes as the coronavirus hammers budgets.

Canada said it was concerned about a delay in reaching agreement. The threat of digital services taxes has prompted threats of trade retaliation from outgoing U.S. President Donald Trump’s administration.

The new tax would come into effect on Jan. 1, 2022, and remain in place until a common approach is agreed upon. The measure would raise federal revenues by C$3.4 billion ($2.6 billion) over five years, starting in the 2021-22 fiscal year.

“Canadians want a tax system

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Netflix to declare more than $1.3 billion in UK revenue, increasing pressure on other big tech firms over their favorable tax arrangements



Netflix. Photo by Britta Pedersen/picture alliance via Getty Images


© Photo by Britta Pedersen/picture alliance via Getty Images
Netflix. Photo by Britta Pedersen/picture alliance via Getty Images

  • Netflix on Saturday said it would declare more than $1.3 billion in UK revenue, according to The Guardian.
  • The move is likely to put pressure on other tech giants like Amazon and Google, many of which use tax jurisdictions to their favor.  
  • The streaming giant has about 50 productions based in the UK, including “The Crown” and “The Witcher,” with plans to double UK spending, Variety reports. 
  • Visit Business Insider’s homepage for more stories.

Netflix on Saturday said it would declare more than $1.3 billion (£1 billion) in UK revenue, according to a report, putting tax pressure on other tech firms like Amazon. 

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“As Netflix continues to grow in the UK and in other international markets we want our corporate structure to reflect this footprint. So from next year, revenue

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France launches Big Tech digital services tax despite Trump threats

  • France has notified US Big Tech companies, including Facebook and Amazon, that it is levying its new 3% digital services tax for this year.
  • France put collecting the money on hold in January, after the tax sparked a tariff war with President Donald Trump’s administration.
  • The tax is aimed at large tech companies operating in France.
  • The Trump administration in July threatened to place tariffs on handbags and makeup if France followed through with the tax.

France has demanded US tech giants pay its new 3% digital services tax, in a re-escalation of a trade war with the White House that was put on hold in January.

The Financial Times reported Wednesday that tech companies including Facebook and Amazon had been told by French authorities over the past few days that they need to pay the tax for 2020. The FT cited company executives, advisors, and French officials.

A finance

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Global Tax Software Markets, 2020-2030 by Component, Software Deployment, Tax Type, End-user, Industry

Dublin, Nov. 25, 2020 (GLOBE NEWSWIRE) — The “Tax Software Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030” report has been added to ResearchAndMarkets.com’s offering.

The report also provides insightful information about how the tax software market will progress during the forecast period, 2020 – 2030.

A latest study collated and published analyzes the historical and present-day scenario of the global tax software market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the tax software market to identify the opportunistic avenues of the business potential for stakeholders.

The report offers intricate dynamics about different aspects of the tax software market, which aids companies operating in the market in making strategic development decisions. This study also elaborates on significant changes that are

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Corvee Adds Proposed Legislative Tax Changes to Tax Planning Software

Software now available to compare current law vs. proposed tax changes to aid in future tax planning

FORT LAUDERDALE, Nov. 23, 2020 (GLOBE NEWSWIRE) — Corvee, a software and solutions company which serves tax and accounting firms, today announces the company’s tax planning software has been updated to include proposed tax changes in the event President-elect Joe Biden is able to pass his proposed changes to tax policy. The software will show the current law vs. proposed tax changes to help in future tax planning.

Corvee recently released the ability for tax and accounting firms to compare what their clients will pay and can save in taxes for 2021 under current law vs. Biden’s proposed policy all within their Tax Planning software. The new tax comparison tool also allows adding tax planning strategies unique to each scenario to be able to develop a proactive and strategic tax plan and be

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Web-Based Businesses and Remote Sellers Tax Obligations

Sales Tax Obligations — Businesses with a Physical Presence in a State

It should come as no surprise that almost all states require businesses with a physical presence in a state and that sell goods or services in the state to collect and pay sales tax on those sales.  Most states also have a complimentary tax, referred to as a use tax, which applies to purchasers when the business does not collect the sales tax for one reason or another.  The purchaser is obligated to report and pay the use tax directly to the state.  In other words, someone is going to pay the state what it believes it is owed for each sale or purchase. 

For a number of reasons, including the habitual failure of purchasers to comply with use tax reporting and payment obligations, and the difficulty of identifying and addressing that noncompliance, states

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