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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Netflix, Inc.    NFLX

NETFLIX, INC.

(NFLX)
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Canada plans digital tax in 2022 on global tech giants

11/30/2020 | 04:01pm EST

OTTAWA, Nov 30 (Reuters) - Canada plans to impose a tax on corporations providing digital services from 2022 that will stay in place until major nations come up with a coordinated approach on taxation, the finance department said on Monday.

The Organisation for Economic Cooperation and Development is working on a common approach to ensure digital behemoths, such as Google and Facebook Inc, pay their fair share of taxes as the coronavirus hammers budgets. Canada said it was concerned about a delay in reaching agreement.

The new tax would come into effect on January 1 2022 and remain in place until a common approach is agreed. The measure would raise federal revenues by C$3.4 billion ($2.6 billion) over five years, starting in the 2021-22 fiscal year.

"Canadians want a tax system that is fair, where everyone pays their fair share," Finance Minister Chrystia Freeland told legislators in the fall economic update.

"Canada will act unilaterally, if necessary, to apply a tax on large multinational digital corporations, so they pay their fair share just like any other company operating in Canada."

($1 = 1.2965 Canadian dollars)

(Reporting by David Ljunggren, editing by Amran Abocar and Steve Scherer)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.45% 1892.56 Delayed Quote.7.98%
AMAZON.COM, INC. -0.45% 3292.23 Delayed Quote.1.08%
FACEBOOK INC 0.60% 274.5 Delayed Quote.0.49%
NETFLIX, INC. -2.53% 565.17 Delayed Quote.4.52%
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Financials (USD)
Sales 2020 24 963 M - -
Net income 2020 2 862 M - -
Net Debt 2020 8 566 M - -
P/E ratio 2020 90,1x
Yield 2020 -
Capitalization 250 B 250 B -
EV / Sales 2020 10,3x
EV / Sales 2021 8,61x
Nbr of Employees 8 600
Free-Float 98,4%
Chart NETFLIX, INC.
Duration : Period :
Netflix, Inc. Technical Analysis Chart | NFLX | US64110L1061 | MarketScreener
Technical analysis trends NETFLIX, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 599,17 $
Last Close Price 565,17 $
Spread / Highest target 32,7%
Spread / Average Target 6,02%
Spread / Lowest Target -55,8%
EPS Revisions
Managers and Directors
NameTitle
Wilmot Reed Hastings Chairman, President & Co-Chief Executive Officer
Theodore A. Sarandos Co-CEO, Director & Chief Content Officer
Gregory K. Peters Chief Operating & Product Officer
Spencer Adam Neumann Chief Financial Officer
Adriane C. McFetridge Engineering Director
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