Major changes are coming to Canada’s Goods and Services Tax/Harmonized Services Tax (GST/HST) and EU VAT laws on the online supply of goods and services. Both sets of rules, which apply as from July 1, 2021, will affect U.S.-based businesses selling or facilitating sales to private individuals in Canada and EU member states, respectively. With just over a month remaining before the rules become effective, such businesses should begin immediately to prepare for their new GST/HST/VAT registration and collection responsibilities.
Source: BDO
