Implementation of a new tax on revenues for companies offering digital services. The tax will take effect January 1, 2022. This measure is temporary and will only apply in the event that Canada does not reach a multilateral agreement on the taxation of digital services.
It will be a 3% tax on revenues collected by online marketplaces, social media, online advertising services, and user data sales and licensing services. This tax will apply to businesses with worldwide revenues of at least €750 million and Canadian revenues of more than $20 million.