A combined GST and PST rate of 12% applied to taxable supplies is called:
A) Zero-rated tax.
B) Harmonized Sales Tax.
C) Input Tax Credit.
D) Combined Sales Tax.
E) None of these answers is correct.

Question

Quizplus · Accepted Answer

The combined GST and PST rate of 12% applied to taxable supplies is called Harmonized Sales Tax (HST). This is a single tax system that combines the federal Goods and Services Tax (GST) and the provincial sales tax (PST) into one streamlined and efficient tax.

A Combined GST and PST Rate of 12% Applied to Taxable