Canada Revenue Agency refunds $148M to 30 US companies after scrapping digital services tax
The post Canada Revenue Agency refunds $148M to 30 US companies after scrapping digital services tax appeared on BitcoinEthereumNews.com. Canada is handing back $148 million to 30 US-based companies after repealing the digital services tax (DST) that briefly made it one of the most aggressive jurisdictions for taxing Big Tech. The Canada Revenue Agency processed the refunds, plus $4 million in interest, by the end of April 2026. The DST, a 3% levy on digital services revenue from large technology firms, collected $647 million in total before it was suspended on June 30, 2025. Of the $647 million collected, $358 million was applied to cover other tax liabilities the companies already owed. That left $289 million earmarked for refunds. The DST targeted companies with global revenues of at least 750 million euros and Canadian digital revenue exceeding $20 million. US firms specifically contributed $148.2 million, representing about 23% of the total haul. The repeal received royal assent o