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Report: The OECD's Tax Break for Tech Giants

Summary

Report

Canada has just signed onto an OECD agreement that will give tech giants a massive tax break compared to what they would pay through Digital Services Taxes to many countries, including Canada. This agreement will then go for further approval to the G20 Finance Ministers meeting on 13 October and to the G20 Leaders Summit at the end of this month. 

Provinces must play a role in fair taxation

All governments in Canada will face challenging fiscal circumstances over the next few years because the COVID-19 pandemic has resulted in appropriate but very significant deficits.   Governments will need additional revenues to fund a stronger, more inclusive recovery, as well as deal with urgent crises like inequality and climate change. However, recent provincial budgets already include significant real spending cuts and “restraint” – the opposite of what is required. Inadequate public spending will be economically and socially damaging and contrary to what a majority of Canadians want — which are substantial improvements to public services and programs like affordable housing, eldercare and education. ...

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