In line with the issuance of Notice 2015-003, “Late PST Registrations”, the Ministry of Finance has updated British Columbia Bulletin PST 002, “Charging, Collecting and Remitting PST” to reflect recent updates to the legislation.
If an organization determines it is required to register for British Columbia PST but has not yet registered, it still has an obligation to collect and remit the tax. The bulletin provides additional details on the reporting periods for entities that are required to be registered but have not yet applied. If PST is not remitted and returns are not filed by these reporting deadlines, interest and penalties may apply. These reporting periods are different than those for entities that have applied to be registered.
The bulletin also expands on the timing of a PST liability when a sale has been made but the purchase price is not yet due or paid. PST may become payable where ownership or possession of the goods has been transferred to the purchaser before the full purchase price has been paid.