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[ad_1] By Kelsey Johnson OTTAWA, Dec 9 (Reuters) - Canada will transfer ahead with its plan to tax massive, worldwide digital firms, Finance Minister Invoice Morneau stated on Monday, whilst the USA threatens to impose retaliatory tariffs on France due to an analogous tax proposal. "We’ve been very clear that we want to make sure that digital companies pay their fair share of taxes in our country. So that means we will move forward," Morneau advised reporters at a information convention. Prime Minister Justin Trudeau's authorities promised throughout Canada's latest nationwide election marketing campaign to impose a 3% digital companies tax on digital firms with worldwide revenues of at the very least C$ 1 billion ($752 million) and Canadian revenues of greater than C$40 million, efficient April 1. The tax, which is analogous to France's new digital companies tax that has irked the USA, could be utilized to income generated by means of the sale of on-line advertisements and consumer information. Final week, France and the European Union stated they had been able to retaliate if U.S President Donald Trump acted on a menace to impose duties of as much as 100% on imports of champagne, purses and different French merchandise price $2.four billion. The tariff menace adopted a U.S. authorities investigation that discovered France's new digital companies tax would hurt U.S. know-how firms like Alphabet Inc's Google GOOGL.O, Fb Inc. FB.O, Apple Inc AAPL.O and Amazon.com Inc AMZN.O. Morneau stated Canada will work with the Group for Financial Co-operation and Growth and different nations because it develops its proposed tax to make sure there are not any loopholes. "These companies are international and we want to make sure they pay their fair share of tax and don't find a way around it," the finance minister stated. Morneau additionally stated Canada's new Liberal minority authorities will current a fiscal replace earlier than Christmas, though no date has been set. Governments historically ship updates late within the yr to supply contemporary forecasts and typically to unveil deliberate fiscal measures. ($1 = 1.3301 Canadian {dollars}) (Reporting by Kelsey Johnson in Ottawa, further reporting by David Ljunggren in Ottawa; Enhancing by Chris Reese and Dan Grebler) ((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.reuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the creator and don't essentially mirror these of Nasdaq, Inc. [ad_2] Source link