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Quebec QST 2013 tax code change implications

edited Jan 24, 2013 3:26AM in Financial Management - PSFT (MOSC) 2 commentsAnswered
 Tax - Excise/Sales/VAT

Quebec QST 2013 tax code change implications  

Beginning January 2013, Quebec QST tax code logic changed and no longer include additional VAT on top of sales tax at Billing invoice generation.
How do we update Tax code configuration to accommodate invoices with 2012 accounting dates to include VAT on QST from Jan 2013, and at the same time exclude VAT from 2013 accounting date invoices given the fact that Tax codes are not effective dated like tax authority?

Answer

Starting with January 2013 the QST for CANADA will become 9.975% (to ensure the total taxes payable remain the same) and will no longer include VAT.

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