WASHINGTON, D.C. – National Foreign Trade Council (NFTC) Vice President for International Tax Anne Gordon today issued the following statement:
“In just two weeks, U.S. companies will have to pay the Canadian government a 3% retroactive tax on their digital activities going back to January of 2022. Estimates suggest that the total amount Canada stands to collect by this date could surpass CAD $3 billion, most of which will be paid by American companies.
“As President Trump and Prime Minister Carney meet in Canada for the G7, we urge them to work together and quickly come to an agreement that reinvigorates our bilateral economic relationship. Critically, such an agreement must resolve the issue of Canada’s DST before the June 30 payment deadline.”
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.
