Harmonized Sales Tax

(redirected from Harmonized Sales Taxes)
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Harmonized Sales Tax

In Canada, the combination of the federal VAT and provincial sales taxes into a single tax collected by the Canada Revenue Agency. Each province sets sales taxes separate from the federal government to pay for provincial expenses. However, five provinces streamline the collection of their sales taxes by allowing the Canada Revenue Agency to collect them along with the VAT and to distribute proceeds to the provinces accordingly.
References in periodicals archive ?
If the supplier fails to invoice the recipient, and on audit it is determined that the tax should have been invoiced, Canada Revenue Agency (CRA) will assess the supplier for the applicable goods and services taxes (GST) and harmonized sales taxes (HST).