Australia Needs To Copy Canada’s Digital Service Tax
Canada is applying a digital service’s tax on US companies doing this kind of business in that country. This will raise billions, as they are making it retroactive. Australia needs to copy Canada’s digital service tax to get these companies to pay their fair share of tax downunder. This Canadian initiative will apply to Google, Apple, Amazon, Microsoft, Meta and the usual suspects in the digital space. The reason that this is required is that these giant companies avoid paying tax by shifting profits to low tax nations like Ireland, the Cayman and Virgin Islands etc. plus, claiming expenses in higher tax places like Australia and Canada. It is a well known corporate rort exploiting loopholes in the tax systems of nations with legions of tax accountants employed by them.
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