On November 14, 2012, Quebec’s Minister of Finance and the Economy, Nicolas Marceau, tabled Bill 5. The bill amends the Act respecting the Québec sales tax (Act) to harmonize the Quebec Sales Tax (QST) system with the Goods and Services Tax (GST) system (to occur on January 1, 2013, and other dates as noted).
Bill 5 includes only rules that are to be harmonized with federal provisions that have been enacted or promulgated. Other rules, such as those pertaining to Selected Listed Financial Institutions (SLFIs), still in draft form, will not be introduced until after their enactment or adoption at the federal level.
Technical amendments had already been announced in the May 31, 2012, Information Bulletin 2012-4.
The general principles of QST harmonization are as follows:
Of further interest