Canada Tax Agency Posts Updated Guidance on GST/HST, Q1 2025 Interest Rates

The Canadian Revenue Agency April 8 posted Excise and GST/HST News No. 119. The guidance includes: 1) a decrease in the Nova Scotia harmonized sales tax (HST) rate to 14 percent from 15 percent effective April 1, with transitional rules for transactions straddling the implementation date; 2) mandatory electronic filing procedures and options; and 3) annual interest rates for Q1 2025, including 4 percent for amounts owed or refunded by the Minister to corporate taxpayers, 6 percent for amounts owed or refunded by the Minister to non-corporate taxpayers, and 8 percent for taxpayer arrears and installments. The interest rates apply ...