Government Provides Update on Sales Tax and Duty Payment Deferral

Government Provides Update on Sales Tax and Duty Payment Deferral

From: Department of Finance Canada

Original Source

News release

June 29, 2020 - Ottawa, Ontario - Department of Finance Canada

The Government of Canada has taken necessary measures throughout Canada’s COVID-19 Economic Response Plan to support Canadians and businesses facing difficult challenges as a result of the global COVID-19 outbreak.

On March 27, the government announced that it would allow businesses, including self-employed individuals, to defer all Goods and Services Tax/Harmonized Sales Tax (GST/HST) payments, as well as customs duty payments owed for imports, until the end of June. The money this left in the pockets of business owners – the equivalent of providing up to $30 billion in interest-free loans – helped them continue to pay their employees and their bills, and helped ease cash-flow challenges across the country.

Today, with a broad range of measures and support programs now in place to help and provide assistance to those businesses and individuals most affected by the economic impacts of the pandemic through the COVID -19 Economic Response Plan, the GST/HST and customs duty payment deferral is ending as planned on June 30.

Businesses that continue to experience difficulty in remitting GST/HST and customs duty amounts owing can contact the Canada Revenue Agency (CRA) and Canada Border Services Agency (CBSA) to make a request for the cancellation of penalties and interest, and/or for a flexible payment arrangement with the CRA.  

The Government of Canada continues to assess and respond to the impacts of COVID-19. It stands ready to take additional actions as needed to stabilize the economy and mitigate the impacts of the pandemic.

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TIM TIERNEY - eNews!
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