2016-12-08 00:00:00TaxesEnglishLearn the meaning of the various acronyms that are used to describe the provincial sales taxes across Canada.https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Accountant-Explaining-PST-TVQQST-Client.jpgWhat Do PST and TVQ/QST Stand for?

What Do PST and TVQ/QST Stand for?

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The acronyms PST and TVQ/QST refer to the provincial equivalents of the goods and services tax. PST stands for provincial sales tax, which is the applicable tax in the provinces that do not participate in the harmonized sales tax regime but still have provincial taxes. The provinces with PST are British Columbia, Manitoba and Saskatchewan.

TVQ/QST stands for Taxe de Vente du Québec/Quebec Sales Tax. The Quebec regime is unique because it is largely harmonized with the federal GST but the provincial entity, Revenu Québec, is in charge of administering both taxes in the province.

Alberta is the only province without a sales tax.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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