Canada | Tungsten Network

Proposed tax rate reduction for zero-emission technology manufacturers

Ryan Golds — Wed, 23 Mar 2022 12:58:28 +0000

In the federal budget in Canada, there is a proposal for a temporary reduction in corporate income tax for any entities that qualify as zero-emission technology manufacturers.

This is currently being discussed, and draft legislation to this effect has already been included in a package of draft legislative proposals on 4 February 2022 by the Department of Finance.

The post Proposed tax rate reduction for zero-emission technology manufacturers first appeared on Tungsten Network.

New Digital Tax Act

Ryan Golds — Wed, 23 Mar 2022 12:57:30 +0000

Canada’s department of Finance has released a draft of the Digital Services Tax Act (DSTA). This Act covers a wide array of entities- both residents and non-residents who engage with online users in Canada. The tax is proposed to be set at 3%, and it is expected that this will become payable in 2024, in respect of revenues earned from January 2022.

As this is a draft only, dates are provisional, and we can expect more concrete information in the coming months.

The post New Digital Tax Act first appeared on Tungsten Network.

GST / HST tax changes

Carl Youngman — Sun, 08 Aug 2021 22:00:00 +0000

From 1 July 2021, Canada’s GST / HST rules have changed around how tax is applied to online sales from non-resident digital businesses. These changes were implemented as GST / HST was often not being collected on online purchases from non-resident vendors.

Therefore, from 1^st July 2021, any foreign suppliers of digital services to consumers based in Canada will be required to register for GST / HST and to collect and remit any tax to the Canada Revenue Agency (CRA).

The post GST / HST tax changes first appeared on Tungsten Network.

GST / HST tax changes

Ryan Golds — Sun, 08 Aug 2021 21:00:00 +0000

The post GST / HST tax changes first appeared on Tungsten Network.