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Does Canadian GST operate along the same principles as UK VAT?
Asking because Enterprise 2021 is no longer supported in the UK, so I want to use Canadian version as a workaround.
This is an accounting question. You should ask an accountant in the UK for help.
""" Like the VAT in Europe, the Canadian VAT is a general, broadly based consumption tax imposed on the value added to most goods and services. Canadian VAT generally does not apply to goods that are sold for export or services which are sold to customers outside Canada.
Canadian VAT is a consumption tax because it is borne by the final consumer. It is not intended to be a cost for most businesses. Canadian VAT is charged at each stage in the production and distribution chain, unlike US-style sales taxes that apply only on retail sales, including on retail sales to other businesses. Canadian VAT payable on inputs is recoverable by businesses through the chain as an input tax credit which can be applied against the VAT collectible on the sales. Therefore, like for European VAT, Canadian VAT is neutral throughout the chain. There are no “cascading” taxes embedded in the goods or services sold to the ultimate consumer in the Canadian VAT regime.""" So yes, QBDTE Canada can be used for Europe. Thank you.
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