Harmonized Sales Tax

Definition

• A value-added consumption tax used in some Canadian provinces to replace the both the "Goods and Services Tax (GST)" and the "Provincial Sales Tax (PST)". The Two taxes are merged into a "Harmonized Sales Tax (HST)", which was once known in some provinces as a "Blended Sales Tax." The rules on what the HST is charged on differs from one province to the next, but generally, a PST is only charged on goods whereas the HST is charged on both goods and services.

Website
http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/menu-eng.html

Relevant Locations
Canada

Notes
Canadian consumption tax.

Acronyms
HST

Related Terms and Acronyms

• Direct Tax — Definition,
  • A tax that is paid straight to the government.
• Goods and Services Tax (GS, GST) — Acronym, Canada,
  • A sales tax that applies in all Canadian provinces charged at 5% (as of 2012).
  ➥ Bank account transaction code.
• Indirect Tax — Definition,
  • A tax that is collected by a third party before being transferred to the government.
• Provincial Harmonized Sales Tax (PHST) — Acronym, Ottawa, Ontario, Canada,
• Provincial Sales Tax (PST) — Acronym, Canada,
  • A sales tax collected by some Canadian provinces.
• Sales Tax — Definition,
  • Federal and / or provincial taxes that are applied to purchases.
• Tax (TX) — Acronym,
  • A levy paid by an individual or entity that is collected by a government.
  ➥ Bank account transaction code.