Optimizing your tax planning: A return to BC PST

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British Columbia (B.C.) Ministry of Finance has stated on numerous occasions that the implementation of the B.C. Provincial Sales Tax (PST) on April 1, 2013, will include all permanent exemptions that were in place under the old Social Service Tax (SST). As a result, the PST Regulation and the Exemption and Refund Regulation are in place to outline exemptions relating to specific consumer products, industry and business, various services and intercompany transactions.

No matter the issue, we have a solution PwC has the largest network of tax professionals in the world, with over 36,000 in our global practice.

How can we help?
Indirect taxes, including goods and services taxes (GST), value-added taxes (VAT), severance, property, employment, excise, motor fuels, sales and use taxes, and custom duties are uniquely imposed by a variety of jurisdictions and can be a significant burden for any organization. Our indirect tax professionals at PwC can help in first determining what taxes are imposed by a jurisdiction, whether the activities of a company are enough to subject it to the tax, and how to either structure the company’s activities so as to avoid the tax or help in complying with the filing requirements.

Due to the significant differences in taxes and related rules among jurisdictions, it may be possible to minimize the overall tax paid through proper planning.

Thought leadership

Tax memo: British Columbia PST regulations released
Highlights significant provisions of the PST Regulation and the Exemption and Refund Regulation

Businesses and their advisers have been anxiously awaiting the release of regulations to complete the missing elements, in particular the provisions to reinstate key exemptions that existed under the previous British Columbia Social Service Tax (SST).

Tax memo: Re-implementation of British Columbia Provincial Sales Tax: Transitional rules
Summarizes the rules governing the re-implementation of of PST in BC

On October 15, 2012, the British Columbia government released Notice 2012-010, announcing many new transitional rules concerning the province’s re-implementation of a Provincial Sales Tax (PST). This Tax memo provides a high-level overview of some of the key rules.

Tax strategy and corporate reputation: a business issue

This publication and website looks at how tax fits into CEOs' views on corporate reputation. As a tentative recovery gets underway in some countries hit hardest by the crisis, many global businesses and their leaders are struggling to get to grips with a new complication — the issue of trust, and the role that corporations should play in contributing to rebuilding the financial strength of nations.

British Columbia PST: an update
A copy of the presentation from the event on April 23, 2013

The presentation covers the background on the issue; how to register and file with the new exemptions; an overview of what is taxed; the exemptions themselves; and the transition rules.