VANCOUVER, May 14, 2012 /CNW/ - While the cost of reverting back to the PST will be significant and onerous, BC retailers are pleased with the administrative changes introduced in Bill 54 today, say Retail Council of Canada (RCC) & Shelfspace.
RCC & Shelfspace note that retailers welcome the effort to modernize the tax by: enabling registration, remittances and tracking on-line; harmonizing the remittance dates for PST and GST; restoring commissions; and, allowing companies to use their federal business number for registration.
The changes announced in Bill 54 are welcome news for retailers who now face the daunting and costly process of converting to the PST by April 1, 2013. "Just as retailers and their customers were getting accustomed to the HST, retailers are now confronted with paying for reverting back to the PST from their own pockets," said Shelfspace President & CEO, Mark Startup.
RCC & Shelfspace applaud the Honourable Minister of Finance, Kevin Falcon and his team for taking the time to engage in consultation and dialogue with both organizations to better understand how undoing the HST will have a negative and adverse impact on retailers who are striving to do what they do best, serve their customers.
"We are pleased with the changes announced today which are necessary steps to modernizing the tax," said Shafiq Jamal, VP Western Canada, RCC. "These changes were a key part of our submissions regarding driving out administrative inefficiencies, confusion and complexities that existed in the previous PST/GST system, and taking steps to create clarity and consistency on the PST."
At present, retailers, and indeed all businesses, are doing what they can to control their costs, while continuing to contribute to overall job creation and growth. Having to undo the implementation of the HST comes at a particularly challenging time when retailers are striving to adapt to a redefined consumer landscape following the global recession.
There is still more work to be done on the transition to PST. RCC & Shelfspace will continue to work with Finance Minister Falcon during the months ahead to ensure that the regulations are also simplified, the cost of transition for retailers is addressed, and the rules around exemptions are less burdensome for retailers.
About Retail Council of Canada (RCC)
Retail Council of Canada (www.retailcouncil.org) has been the Voice of Retail since 1963. We speak for an industry that touches the daily lives of Canadians in every corner of the country — by providing jobs, career opportunities, and by investing in the communities we serve. It is a not-for-profit association which represents more than 45,000 stores of all retail formats, including department, grocery, independent merchants, regional and national specialty chains, and online merchants.
About Shelfspace, The Association for Retail Entrepreneurs
Established in 1917, Shelfspace, The Association for Retail Entrepreneurs, is a not-for-profit organization that represents the retail communities of BC and AB. Governed by a dedicated group of retail leaders, Shelfspace exists to serve the retail community through advocacy, cost-savings, education and community engagement, and by sharing the passion for retail excellence.
For further information:
Shafiq Jamal, VP, Western Canada, Retail Council of Canada, 604-683-7706, firstname.lastname@example.org
Mark Startup, President & CEO, Shelfspace, The Association for Retail Entrepreneurs, 604-730-5252, email@example.com