OTTAWA — Opposition MPs pressed officers Thursday on how prepared they’ll be to begin amassing GST on electronic profits by international organizations these types of as Netflix, Airbnb and Amazon starting up next year.
Foreign providers devoid of a bodily existence in Canada are not at the moment necessary to collect the federal goods and products and services tax, but Ottawa outlined ideas to modify that in its fiscal update earlier this 7 days.
Senior officers from the Canada Profits Agency, Finance Department and Canada Border Solutions Agency reported Thursday they are self-confident they’ll be equipped to start out gathering GST and HST for cross-border digital income by July 1, 2021.
CRA chief government Bob Hamilton advised the Standing Committee on Community Accounts that the company has the methods it requires to meet up with the deadline.
Hamilton stated the CRA will get a “good share” of the GST revenue that should be gathered on cross-border gross sales and then operate to shut any gaps that it finds.
There had been number of distinct details, but Hamilton and other officials stated they’d be in a position to seek the advice of and understand from the OECD, other jurisdictions with comparable tax steps and the providers them selves.
This report by The Canadian Push was first released Dec. 3, 2020.
The Canadian Push