Canada Newfoundland raises HST to 15% 2016
- Aug 1, 2015 | Richard Asquith
The Canadian province of Newfoundland and Labrador is to increase its Harmonized Sales Tax (‘HST’) rate from 13% to 15% on 1 January 2016.
Canadian HST is made up of local Provincial Sales Tax (PST) and federal Goods & Services Tax (GST). Newfoundland is increasing its PST rate from 8% to 10%. The GST rate will remain at 5%.
The new rate should be applied at the earliest of the following points:
- The date of the issued invoice
- If there is an unjustified delay in the issuing of the invoice, then the date the invoice should have been produced
- The date any consideration is paid