Introduction - Export Businesses and Canada s GST/HST
System
Export-oriented businesses in Canada play a vital role in
facilitating Canada s international economic presence and
economic growth. An export business engaged in repackaging and
distribution of goods abroad, rather than on manufacturing or
production, may be able to benefit from beneficial sales tax treatment under Canada s Export
Distribution Centre Program (the EDCP ). Enacted in
2000, the Export Distribution Centre Program was designed to
benefit export business models strictly focused on redistribution
services. What export business models may qualify for authorization
under the Export Distribution Centre Program, and what activities
may threaten that authorization once obtained, can involve
Flipping houses? Be careful if you re claiming principal residence exemptions
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Flipping houses? Be careful if you re claiming principal residence exemptions
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Treasury removes 20pc excise tax on bank loans
Summary
The Treasury has scrapped the 20 percent excise duty on bank loan fees, setting the stage for possible drop in the cost of credit to business and households.
The removal of the excise tax is contained in the Finance Bill and will see banks save up to Sh7 billion annually on taxes generated from fees charged on processing loans.
Bankers say the cut will ease pressure on lenders to raise loan costs given the fees that attract the excise duty account for an average of 2.5 percent of the overall lending rates.
Thursday May 06 2021
Cryptocurrency Tax Data Requests: It s Easier To Go Fishing In Canada
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