The Accounts Payable Network Releases New Canadian Sales Tax Resources.

ATLANTA -- The Accounts Payable Network (TAPN) today announced the release of its new Canadian sales tax resources, available at www.tapn.com.

Just in time for July 1 reductions in Canada's Goods and Services Tax (GST), as well as in the Harmonized Sales Tax (HST) levied by several provinces, TAPN's online resource outlines critical information accounts payable professionals need to know about Canadian sales tax issues, said TAPN CEO Phil Binkow.

"Accounts payable and finance professionals worldwide are charged with ensuring that their organizations don't overpay or underpay tax on purchases in their home nations and in foreign countries," Binkow said. "TAPN's convenient Canadian sales tax resource reduces the need to call many different offices and search numerous databases."

In clear language and an easy-to-use format, TAPN's Canadian sales tax resource provides information on:

--which provinces levy sales taxes;

--what is taxable and what isn't;

--how each tax is collected;

--current sales tax rates; and,

--which organizations must register to collect taxes.

Of the 13 Canadian provinces and territories, five -- British Columbia, Saskatchewan, Manitoba, Ontario and Prince Edward Island -- have their own tax statutes to impose a Provincial Sales Tax (PST). The province of Alberta and the territories -- Northwest Territories, Nunavut and Yukon -- do not impose a sales tax. Quebec province imposes the QST, which is like the value-added or VAT tax.

Three Atlantic provinces -- New Brunswick, Newfoundland, Labrador and Nova Scotia -- participate in the 14 percent Harmonized Sales Tax (HST), 6 percent of which is GST and 8 percent of which goes to the province.

Canada's GST, levied on almost all goods and services, dropped from 7 percent to 6 percent on July 1. The HST, a composite of sales taxes levied in Nova Scotia, New Brunswick, Newfoundland and Labrador, dropped from 15 percent to 14 percent on July 1. The GST change also affects those PST calculations applied after GST, but not those where PST is applied prior to GST.

About The Accounts Payable Network

TAPN is the leading accounts payable resource for financial professionals. In one convenient online location, TAPN provides compliance guidelines and tools, best practices, benchmarking studies, real-world solutions, exclusive industry news, interviews with industry leaders, case studies, tax and regulatory guidelines, Q&A networking forums and hundreds of downloadable, customizable tools, policies, flowcharts, templates and internal control checklists. TAPN's more than 3,000 global members include 70 percent of the Fortune 1000, as well as other companies both large and small in the United States and abroad. To learn more about TAPN and the many resources it offers to finance professionals, visit www.tapn.com.

TAPN is a division of Financial Operations Networks, which provides online analysis, interpretation, guidance and advice to executives and managers responsible for operating and improving financial and administrative functions.