DATABASICS Time & Expense Blog

HST Alert: Canada – HST Rate Increase Canceled in Newfoundland & Labrador

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Cancellation of the Harmonized Sales Tax Rate (HST) increase on April 30, 2015, the Government of Newfoundland and Labrador announced its intention to increase the rate of the Newfoundland and Labrador component of the Harmonized Sales Tax (HST) to a rate of $.010 effective January 1, 2016, resulting in an HST rate of $0.15. 

The Government of Newfoundland and Labrador has asked the Government of Canada to facilitate the cancellation of the proposed HST rate increase and the federal government has agreed. As a result, the HST rate will remain at $0.13 after December 31, 2015. 

As the world constantly changes, both political and economic events can prompt VAT and other consumption tax changes, with DATABASICS you can stay on top of individual country’s requirements for reporting and recovery according to your company policy.

If you’re not currently taking advantage of DATABASICS for VAT Recovery, contact us at 1(800) 599-0434 to review any requirements and available solutions.

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DATABASICS provides cloud-based, next-generation Expense Reporting, P-Card Management, Timesheet & Leave Management, and Invoice Processing automation. Specializing in meeting the most rigorous requirements, DATABASICS offers the highest level of service to its customers around the world.

DATABASICS is relied upon by leading organizations representing all the major sectors of the global economy: financial services, healthcare, manufacturing, research, retail, engineering, non-profits/NGOs, technology, federal contractors, and other sectors.

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*http://www.fin.gov.nl.ca/fin/tax_programs_incentives/personal/hst.html." 14 Dec. 2015. Web.

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