British Columbia

Surprising Tax Facts About Doing Business in Canada

Canada’s tax system operates in a very different fashion from the U.S. There are many reasons why taxpayers need to understand these differences and how Canada operates in regard to taxes.

British Columbia Reinstates Provincial Sales Tax System

The Province of British Columbia will reinstate the combined 12% PST (Provincial Sales Tax) and GST (Goods and Services Tax) tax system following the referendum decision to eliminate the HST (Harmonized Sales Tax). The HST had replaced the PST on…

Effective October 21, 2004, the British Columbia PST rate decreased from 7.5% to 7.0%.

On October 20, 2004, the British Columbia Ministry of Finance announced the above reduction in the Provincial Sales Tax rate. The new 7.0% rate will apply to items purchased on or after the effective date and items ordered before the…