The province of Prince Edward Island has released two brochures: PST Payments on Out-of-Province Purchases; and On-Line Services for Revenue Tax (PST) Vendors. These brochures remind taxpayers of their obligation under the Revenue Tax Act to pay PST on certain purchases brought into the province, and to inform vendors of on-line services available for filing returns and/or remitting PST to the province.
The brochure on PST Payments on Out-of-Province Purchases reiterates that individuals and businesses are responsible for paying the applicable PST on goods brought into the province from another Canadian province or outside Canada. PST applies on taxable goods purchased through the internet, mail order or any other method, and is subject to a rate of 10% of the fair value, which includes GST paid. Where PST was not paid (i.e., self-declared or self-assessed), interest of 1.5% per month from the date the goods were purchased or brought into the province may be charged. In some cases, a refund of the provincial portion of HST paid on the original purchase of the goods is available. This brochure contains the same information as the Prince Edward Island Revenue Tax Guide RTG-184, “Payment of Revenue Tax (PST) on Out-of-Province Purchases”.
The On-Line Services for Revenue Tax (PST) Vendors brochure outlines the options available to vendors who choose to use on-line services to file returns and/or make payments for PST due to the province. Vendors may either register with the Taxation and Property Records to use internet banking, or use the Emergis system offered by financial institutions. The brochure contains step-by-step instructions for registering a company that has opted to use the online services offered by the Taxation and Property Records and explains the options available when using this particular on-line method (e.g., submit a return and/or submit payment).