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Username: Maria Rating:  Asked to: Talitha Taslim Date Created: 07 Apr 2016 |
| Category | 40 |
| Tag | Financial |
| Question | What is 'Harmonized Sales Tax (HST)'? |
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Hello Maria, A Canadian tariff scheduled to be implemented on July 1, 2010, that combines the federal goods and services tax (GST) with the provincial sales tax (PST). According to the C.D. Howe Institute, a Canadian public policy organization, the HST is primarily an attempt to build a more efficient tax system, and not to increase sales tax revenues. Proponents believe that replacing the cumbersome provincial sales tax (PST) with a one-time, value-added tax will benefit consumers by simplifying the tax system and eliminating some of the current disincentives that many producers face. |
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