Canada | G7 releases statement on Global Minimum Tax (Pillar Two) and Canada rescinds digital services tax

10 July 2025|Tax Alerts, Legislation & Policy, National/Federal Taxation, Global|Canada

On 28 June 2025, the G7, under Canada's presidency, released a statement describing a "shared understanding" that a "side-by-side system" approach to the OECD's Pillar Two framework could stabilize the international tax system and address concerns over perceived unfair foreign taxes.
Concurrently, Canada announced it will rescind its Digital Services Tax Act, halting the planned collection of the tax effective 30 June 2025, to facilitate broader trade negotiations with the United States.
If implem…

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