Bloomberg (James Munson), Canada Expects Billions in Revenue From Global Minimum Tax:

Canada expects global minimum tax revenue to hit C$2.7 billion ($1.92 billion) this year and then drop to an annual average of C$2 billion over the next four years.

The figures, released in a budget Thursday, are similar to past estimates and don’t appear to include the impacts of the “side-by-side agreement,” a deal reached by negotiators at the Organization for Economic Cooperation and Development in January that prevents countries from imposing global minimum taxes on US companies, tax professionals said.

The side-by-side agreement would theoretically mean a decrease in Canadian revenue from its domestic global minimum tax rules, throwing into question the accuracy of the Department of Finance’s new figures, the practitioners said. Read more here…