Amazon ‘applauds’ Canada’s scrapping of tech tax

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Amazon said Tuesday it “applauds” Canada’s decision to scrap its digital services tax in order to salvage trade talks with the United States, calling it a win for the online retailer’s customers.

The digital services tax, enacted last year, would have seen US technology giants such as Amazon on the hook for a multibillion-dollar payment in Canada by Monday, analysts have said.

US President Donald Trump had slammed the tax and called off trade talks with Ottawa, which reversed course and binned the tax on Sunday.

The tax had been forecast to bring in 5.9…



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Amazon ‘applauds’ Canada’s scrapping of tech tax



Amazon said Tuesday it “applauds” Canada’s decision to scrap its digital services tax in order to salvage trade talks with the United States, calling it a win for the online retailer’s customers.

The digital services tax, enacted last year, would have seen US technology giants such as Amazon on the hook for a multibillion-dollar payment in Canada by Monday, analysts have said.

US President Donald Trump had slammed the tax and called off trade talks with Ottawa, which reversed course and binned the tax on Sunday.

The tax had been forecast to bring in 5.9…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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