Goods and Services Tax


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Goods and Services Tax

A term for a VAT in Australia, Canada, Hong Kong, India, New Zealand and Singapore.
References in periodicals archive ?
The following letter was sent to the Ministers of Finance of the Canadian Provinces of British Columbia, Manitoba, Ontario, Prince Edward Island, Saskatchewan - all of which have chosen not to harmonize their respective provincial sales tax with the federal Goods and Services Tax - urging them to continue their dialogue with the federal government with the long-term objective of establishing a single national sales tax.
On April 23, 1996, Finance Minister Paul Martin and Revenue Minister Jane Stewart announced a "Memorandum of Understanding" among the federal government and the provinces of Nova Scotia, New Brunswick, Newfoundland and Labrador to initiate a formal process for harmonization of the federal Goods and Services Tax (GST) and the provincial sales taxes in those provinces.