Regulatory Initiative: Regulatory Proposals Relating to the Goods and Services Tax/Harmonized Sales Tax, Excise Levies and Other Taxes (August 2023) – Forward Regulatory Plan 2023-2025
Title or working title of the regulatory initiative:
Regulatory Proposals Relating to the Goods and Services Tax/Harmonized Sales Tax (GST/HST), Excise Levies and Other Taxes
Description of the objective:
On August 4, 2023, the Government of Canada announced proposed amendments to various regulations related to GST/HST, excise levies and other taxes. This announcement included regulatory proposals related to:
- technical amendments to GST/HST rules for financial institutions;
- enhancements to the vaping product taxation framework; and
- proposed amendments to implement technical tax amendments in order to improve the certainty and integrity of the tax system.
The announcement also included draft regulations under the Select Luxury Items Tax Act.
Indication of business impacts:
The Small Business Lens is not expected to apply.
Public consultation opportunities:
Canadians were consulted on the draft regulatory proposals as part of a consultation announced by news release on August 4, 2023. Interested parties were invited to provide comments on the proposals by September 8, 2023.
The news release for the consultation, along with the draft regulatory proposals, is available on the Finance Canada website.