The Minister of Finance Announces Legislative Amendments Pursuant to the Agreement on Harmonization of Sales Taxes with the Federal Government
QUÉBEC, May 31, 2012 /CNW Telbec/ - The Minister of Finance of Québec, Raymond Bachand, today announced the changes that will be made to the Québec sales tax (QST) system to further harmonize it with the federal goods and services tax (GST) and harmonized sales tax (HST) system. In so doing, he is acting on the comprehensive integrated tax coordination agreement the governments of Canada and Québec entered into on March 28, 2012 as well as the memorandum of agreement reached on September 29, 2011.
"The changes being announced today are technical in nature and will have no impact on the tax burden of Québec's consumers. All the existing exemptions (books, diapers for infants, etc.) are maintained," the Minister pointed out.
These changes, implementing the harmonization undertakings applicable in 2013, essentially stipulate that:
Information Bulletin 2012-4, released today, describes how these changes will be implemented.