March 4, 2013
New B.C. PST is Ready to Go, Are You?
Is your business ready to face a new B.C. PST system on April 1, 2013? With less than one month left before the new tax system fully applies, you have to make sure that your business is ready for all the challenges that a new tax system may bring.
Late last week, the British Columbia government released almost 200 pages of regulations related to the upcoming new provincial sales tax (PST). The new regulations reveal further details on PST exemptions and compliance requirements, among other information. This new information will help businesses complete the necessary changes and test their systems and processes to be ready for the April 1, 2013 transition date.
This TaxNewsFlash-Canada provides a general overview of some of the key points in the new PST regulations.
The new PST regulations
the new PST
Purchasers must consider the extent to which the goods and services they purchase qualify for exemption and, where necessary, provide the appropriate documentation to the vendor to exempt the transaction.
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Information is current to March 4, 2013. 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. For more information, contact KPMG’s National Tax Centre at 416.777.8500.
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