COPPS TO TAX CANADIAN ADVERTISERS IN U.S. MAGAZINES
By Adnews Staff
Heritage Minister Sheila Copps is planning a controversial move in the magazine industry. The minister says Canadian advertisers will be heavily taxed if they buy ads in foreign-owned magazines. The ruling is intended to protect Canadian magazines by assuring them of a steady stream of ad revenue. It replaces an earlier proposal that Copps was forced to drop. Under the earlier plan, Canadian advertising would be banned from all magazines unless they contained a certain percentage of Canadian content. The minimum amount would have been 50% to 60%. The new proposal will go before the full cabinet by September. If the proposal doesn't fly, Copps has until the end of October to come up with another plan. The Association of Canadian Advertisers is against the tax, stating advertisers shouldn't bear the burden for the publishing industry.