News and Insights

Prince Edward Island Revenue Tax Notice RTN 118 “Rebate of Revenue Tax Remitted on Uncollectible Accounts”

Tax Development Jan 22, 2010

The province has revised this guide to reflect an amendment made to the Regulations to the Revenue Administration Act, which was effective April 5, 2008, related to the rebate of PST paid on uncollectible credit sales.  The criteria for vendors to recover PST remitted on uncollectible accounts have been changed, and the amendment allows vendors to deduct the amount of the rebate from the PST liability account without submitting a request to the Provincial Tax Commissioner.