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Canada to tax big internet companies to protect cultural sector!

Written by MKTLIST Blog Team Published On : March 15, 2018 1410
Canada to tax big internet companies to protect cultural sector!

Canada is considering a plan to levy tax big internet companies like Google, Facebook, and Netflix. The country aims to keep its cultural sector safe, which according to sources has been a target of only gains of the digital economy.

A spokesperson for Heritage Ministry of Canada, Simon Ross stated on Wednesday that initiatives were ongoing to apprise 1991 Broadcasting Act of Canada so that these giants on the internet are bound to work inside regulatory frameworks of Canada.

“The government of Canada recognizes that large internet companies are acting outside regulatory frameworks and may be a threat to our culture,” mentioned Ross.

Facebook, YouTube, Netflix, Spotify and other internet-based companies have been successful in giving their service and sell advertising in the country with no legal rules to work per the regulated broadcast system.

The reason for this is that they get all of their content out of Canada and are not instructed to pay to endorse Canadian programming. Also, they are not bound to meet the quota of the country’s content like other Canadian broadcasters.

Also, read LIVE UPDATE: Trudeau Compliments Officials on Being Exempted from Steel & Aluminum Tariffs Last Week!

Melanie Joly – Heritage Minister of Canada stated that these companies operating on Internet would soon be bound to “respect our cultural policies, and also share the benefits of their business model.”

She also said that the digital platforms have been benefitting hugely from the advertising in Canada without following the legal requirements.

“The benefits of the digital economy have not been shared equally. Too many creators, journalists, artists have been left behind, and there needs to be a better balance,” added Joly soon after her trip to Silicon Valley in the US.

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