A goods and services tax (GST) number is a unique tax identification number assigned to a business by the Canada Revenue Agency (CRA). It's also known as a business number (BN), because, in addition to being used to collect, report and remit GST and harmonized sales tax (HST), it i...
Such businesses may use a simplified GST/HST registration procedure. A business required to be registered under the simplified GST/HST can voluntarily apply to register for normal GST/HST, if it meets certain conditions. You can register under the simplified GST/HST online. Businesses might not...
The "tax payable when importing goods" refers to GST, excise tax and excise duty (which may or may not apply to the goods you wish to import). Note that for imported goods you only pay the federal portion (GST) of taxes even if you reside in a province that chargesHST(i.e., has...
Directorate General of Foreign Trade has started operationalising online filing of Importer Exporter Code (IEC) applications, online processing and issue of e-IECs in digital format. Now new entrepreneurs/exporters/importers can apply online for issue of new IEC from the comfort of their home/IT K...
Divide the cost of the item by the number you computed to obtain the cost before taxes. For example, suppose you purchase a computer in Manitoba for $700 including tax. Since 700/1.12 = 625, the price before taxes is $625. Multiply the pre-tax price by 0.05 to obtain the GST. For ...
collect returns. This application is necessary as long as a company exceeds the limitations of a small supplier. The form for theQSTis required before a business makes its first taxable sale. For the GST, a company must apply before the 30th day following the day it made its first taxable...
Apply for business insurance Organize your finances Brand your business Create a professional business website Market and promote your business Build a team 01. Brainstorm and refine your business idea You might already have a great business idea that you can’t wait to start, or maybe...
If the low-value sale of imported goods is B2B, the seller does not need to charge VAT as long as the buyer is a UK business and has provided its UK VAT registration number. How to register for a VAT number Since Brexit, the UK now has a VAT registration process that’s separate fr...
services you would like to ship from the Philippines to Canada has a number of advantages. According to OEC, the Philippines exports several products in bulk to Canada, such as insulated wires, integrated circuits, and housewares, as there is a significant demand for these produc...
Huang, Chye-ChingSocial Science Electronic Publishingvan Klink, A. (2012). How to zero-rate the GST on food: best and worst practice from the United Kingdom, Canada and Australia. New Zealand Journal of Taxation Law and Policy 18, 276-302....