A British Columbia business panel believes it has found a credible made-in-BC compromise that addresses concerns about any negative economic fallout from a return to the provincial sales tax, while respecting the public’s wishes to scrap the harmonized sales tax.
As a result of much public opposition expressed in a 2011 referendum, BC’s plan is to end the HST this coming April.
The panel was created in January 2012 to provide recommendations on improving the province’s tax competitiveness and streamline the PST.
The panel audience included BC’s Standing Committee on Finance and Government Services, who listened to the members of the panel during its 2013 budget consultation. This encouraged the Minister of Finance to consider the panel’s recommendations to minimize the impact of BC moving back to a PST/GST system.