Tax Memo: British Columbia Harmonized Sales Tax — Recapture of Input Tax Credits

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(Update November 9, 2010)

On May 14, 2010, the British Columbia Ministry of Finance released its amended publication HST Notice #4 — Temporary Recapture of Input Tax Credit Requirement, which deals with the recapture of input tax credits (ITCs) that relate to the provincial portion of the Harmonized Sales Tax (HST). On June 17, 2010, the federal Department of Finance released the New Harmonized Value-added Tax System Regulations, No. 2 that provide the relevant legislation for the recapture of input tax credits (RITC). Get details in this Tax Memo.