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May 15, 2010
by: Bookkeeping-Essentials


VAT stands for value added tax. Most countries in the world have this tax. United States is one of the few countries that does not.

In Canada, the VAT is administered by the federal government ... and also referred to as GST (Goods and Services Tax) or HST (Harmonized Sales Tax).

HST combines the GST and PST (provincial sales tax) into one single tax to reduce the costs and administrative burden to small business owners.

Laura, Bookkeeping-Essentials

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