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Canada pushing ahead with tax on Big Tech opposed by U.S., Freeland says
(financialpost.com)
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this post was submitted on 19 Jul 2023
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They have been increasing prices. They have also removed basic services and account sharing.
It's not taxed on net income, but gross revenue. Semantically, it's a "revenue" tax with the same effect as a sales tax. They collect $100 and get to keep $3. I appreciate the wishful thinking, but it will passed on to customers.
The Canadian solution to every problem is always "more tax".
Well, traditionally it is: Establish a monopoly/monopsony.
But with US companies already entrenched, it is a little late for that. "More tax" is our fallback plan.