The Digital Services Tax is now in effect.
Foreign tech giants must now pay a three per cent levy on revenue from Canadian users, retroactive to 2022, after the federal government enacted the measure with an order-in-council on June 28.
Many of those large companies are based in the United States and the American government and business communities on both sides of the border have called for Ottawa to stop the measure.
“It’s a risky idea,” University of Ottawa professor Michael Geist told Global News.
“If we take a look at how (the United States) reacted to similar taxes from other countries in the past,” he continued, “they’ve used tariffs to try to make up for what they perceive to be lost revenue, or to almost punish other countries for moving in that direction.”
In their attempt to make Canada resemble Europe, the Liberal Party of Canada, is trying to find new sources of revenue to finance their bloated government. The problem the Liberal Party has a CASH FLOW problem, tax revenues aren’t keep pace with with their “Work from Home” Public sector workforce.
Most public sector workers in Canada, have a wages that keep pace with inflation, and because of this, the Federal Liberal Party is 100% reliant on the Bank of Canada to finance their spending.
If Canada was on a Gold Standard, it would be beyond bankrupt, luckily for them their able to print money out of thin air, that the world currently gladly accepts, which allows the FOREIGN EXCHANGE value of the loonie hold its purchasing power.
However the DOMESTIC purchasing power of the loonie continues to erode, as fiscal policy coming for multiple layers of governments are in deficit. If you’re trying to make sense of this, don’t waste your time, Leftists are economically illiterates and often take their marching orders from “think tanks.”
The goal for Leftists is to make citizens/people/the human race dependent on a government they own and control, don’t over think why! It’s really that simple.
