Quick Links

QST rate change effective Jan. 1, 2011

News

Published: 1 Dec 2010

In an attempt to tackle its growing budget deficit, the Quebec government announced an increase to the Quebec sales tax rate (QST) from 7.5% to 8.5% effective Jan. 1st, 2011.

During the transition period from the current rate of 7.5% to the new rate, the following rules apply:

  • If QST becomes payable or is paid before January 1st, 2011, the 7.5% QST rate will apply.
  • If QST becomes payable on or after January 1st, 2011 without having been paid before that day, the 8.5% QST rate applies.

What does this mean?  Read the Financial Services’ Knowledge Base article which explains the impact.

Category:
Source Site: /channels
Classified as: