British Columbia has posted several documents on the Ministry of Finance webpage concerning the proposed harmonized sales tax, to become effective July 1, 2010. Included on the webpage are links to Questions and Answers regarding this new harmonized tax.
In addition, the Government of Canada and the Government of British Columbia have released a Memorandum of Agreement (“MOA”), which forms the framework to negotiate and conclude a new Canada-British Columbia Comprehensive Integrated Tax Co-ordination Agreement (“Canada-British Columbia CITCA”), whereby the Canada Revenue Agency and the Canada Border Services Agency will administer a British Columbia Value-Added Tax.
Both parties to the MOA have agreed to make every effort to fulfill the obligations as set out in the MOA, that all policy and administrative details are finalized, including any necessary legislative processes and the signing of any required agreements before March 31, 2010, except where otherwise specified in the MOA.
