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Our June 2024 edition of Quarterly tax developments is designed to help you identify changes in tax law and other events when they occur so the accounting can be reflected in the appropriate period. This updated publication provides a quarterly overview of enacted tax legislation, as well as regulatory and other developments during the quarter. Certain enacted tax changes through 30 June 2024 are designated throughout this publication by an asterisk after the country name or toward the beginning of the summary.
This updated publication also includes discussion of Canada’s new digital services tax (DST), which was enacted 28 June 2024. Although not an income tax under Accounting Standards Codification 740, the DST will have financial reporting implications for companies that provide digital services subject to the tax.