Retailers in Canada are contending with the latest round of indirect tax rate changes, including HST tax rate increases in several provinces.
Retailers in Canada are contending with the latest round of indirect tax rate changes, including HST tax rate increases in New Brunswick, Newfoundland and Labrador and Prince Edward Island.
These changes add to an already wide range of indirect tax challenges that retailers must meet in their daily operations. As retailers’ activities evolve with new products, expanding markets, new forms of payment and ever changing reward programs, the related sales tax issues around these activities also become more complex. With one or more indirect taxes applying to most retail transactions, any errors in systems and sales processing can multiply quickly and become very expensive if not addressed in time.
Information is current to June 20, 2016. The information contained in this TaxNewsFlash-Canada is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.