Legislation governing the April 1, 2013 reintroduction of the provincial sales tax in British Columbia received Royal Assent on May 31, 2012. The Provincial Sales Tax Act is now law and businesses can rely on it to prepare for the upcoming tax. However, the British Columbia government had previously stated that regulations would be released to support this new legislation. These regulations are expected to be released in the fall. Until they are issued, taxpayers will likely not have a complete understanding of how this new tax will operate.
Further analysis of the Provincial Sales Tax Act will be provided to Ryan clients in a future Tax Alert. Please refer to our tax development last month under “British Columbia Introduces Legislation to Return to PST” for general information on the new legislation.
British Columbia Provincial Sales Tax Act