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What will the restored PST look like?
What will the restored PST look like?
Retailer group says it should be modernized
Richard Dettman Aug 26, 2011 13:35:40 PM
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VANCOUVER (NEWS1130) - A retailers' association is anxious to find out what the PST will look like now that the HST has been defeated.
Mark Startup is the head of Shelfspace. He says retailers have gotten used to changing tax rates, but there may be some costs associated with changing software or updating to a new program. But he adds the greatest concern for merchants is "what will the PST look like if we have to bring that darn, antiquated anti-investment tax back?"
He says the PST was "highly flawed."
Startup tells us his group couldn't get meaningful changes in the PST, despite trying for about 25 years. He feels the HST allowed many of the inefficiencies, inequities, and complexities of the PST to go away. But he also tells us if the government is open to modernizing the PST to make it simpler and consumer-friendly, his group wants to be at the table to discuss it.
Money and time for new tax systems lost: expert
The defeat of the HST means many businesses that spent a lot of money and time putting in systems for the tax will not be able to recoup that investment, according to an accountants' group.
Janice Roper with Deloitte, speaking for the Chartered Accountants of BC, also says for many businesses, their cost of capital, purchasing equipment, and all kinds of other inputs will go up again once the PST is back in.
Roper explains restaurants and other service businesses will be happy to go back because they won't have to charge the seven per cent provincial portion of the HST, unless the PST is expanded to affect restaurant meals.
She says another problem with two sales taxes was different exemptions, a problem that will return under separate GST and PST |
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發表於 2011-8-26 19:54
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