How to setup Invoices Tax code for the Province of Newfoundland and Labrador, Canada?

Updated on October 17, 2016 06:32AM by Admin

Users in the Province of Newfoundland and Labrador, Canada can easily set up their online invoices to charge for the proper taxes.  In the province of Newfoundland & Labrador businesses are required to charge HST taxes on all products/services they sell. You can useourmulti rate tax codes calculator to make these tax rates available for use when creating invoices.

The tax code followed in the Province of Newfoundland and Labrador, Canada is:

  • The Harmonized Sales tax (HST), is a value-added tax and is composed of the federal (GST) 5%and a provincial (PST) component of 8%
  • The total tax rate is 13% which is applied to all goods and services taxable under the federal excise tax Act.

Reference : Harmonized Sales Tax(HST) rates of the Province of Newfoundland and Labrador, Canada is referred from Wikipedia (Sales Tax, Canada)

Steps to Configure Taxes on Invoices App Settings

  1. Log in and access Invoices App from your universal navigation menu bar.
  2. Click on “More” icon and select "Settings" at the app header bar.
    invoice settings
  3. Click on "Invoice" and select “Taxes” from the left navigation panel.
    taxes
  4. Select “Multi rate taxes” and click on “create” button.
    multi select tax
  5. Create multi tax rate pop-up will emerge. You can “create” or “add” taxes from the list.
  6. If you create tax, then Provide tax code, tax rate type and percentage.
    add multitax
  7. In tax rate type, there are two options:
  8. Click “create” to get done with your multi tax formation. Which indicates with a tax code created popup.
    tax created
  9. After selecting capture tax code, it auto updates itself. Thereafter for every invoice created will be based on the tax code level captured.
  10. You can enable or disable a tax code by clicking the highlighted symbol under the actions column.
    disable tax
  11. Now, we proceed with creating a new invoice with the above settings.
  12. You can either Email an invoice with PDF attachment or manually print invoice to be provided to your customer.
  13. This is how a customer views Invoice tax code item subtotals in PDF format.
    pdf template

Follow this link to know more about Invoices tax code followed in various countries