Disney, Netflix Ask Canadian Court to Kill Proposed Revenue Tax [Yahoo! Finance]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: Yahoo! Finance
Key Takeaways Disney, Netflix and other streamers are fighting a proposed 5% tax on revenue earned in Canada to fund local news in the country. The Motion Picture Association-Canada has filed a suit to stop the Canadian Radio-television and Telecommunications Commission's tax proposal. The tax could raise an estimated 200 million Canadian dollars annually, according to government estimates. The Motion Picture Association-Canada, representing Disney ( DIS ), Netflix ( NFLX ) and other streamers, is fighting a proposed 5% tax on revenue generated in the country that would be used to finance local news. The tax, proposed by the Canadian Radio-television and Telecommunications Commission (CRTC), could raise an estimated 200 million Canadian dollars ($147 million) per year, according to a government estimate. The MPA-C filed on Thursday with Canada's Federal Court of Appeals to halt the proposal, which would go into effect in the fall. Warner Bros. Discovery ( WBD ) and Paramo
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