Tax Requirements for Business
If you are a business owner, you are legally required to remit corporate taxes monthly. The type of business you operate will determine the taxes you must pay and which taxes you are responsible for collecting from your consumers.
What taxes should I expect to pay to operate my business?
HST: The Canadian Revenue Agency (CRA) administers the Harmonized Sales Tax (HST). HST is a combined federal and provincial tax which replaces both the provincial revenue tax (PST) and the goods and services tax (GST) in PEI.
Additional taxes may include:
- Environmental Tax for consumer tire purchases
- Financial Corporation Capital Tax for any financial corporation permanently located in PEI
- Gasoline Tax for consumer gasoline, diesel oil, propane, and aviation fuel purchases
- Tobacco Tax for consumer tobacco purchases
Tax rebates for business
In some cases, the tax you pay can be reimbursed. For example, in Prince Edward Island, a ten-year tax rebate is offered to companies in the following sectors:
This page is prepared for information purposes only, and should not be considered a substitute for the applicable statutes. Should there be any conflict between the contents of this guide and the statutes, the statutes shall prevail.
Who can I contact about business taxes?
Taxation and Property Records Division
Finance, Energy and Municipal Affairs
P.O. Box 2000
Charlottetown, PE
C1A 7N8
Telephone: (902) 368-4591
Fax: (902) 368-4399
Email: taxandland@gov.pe.ca
www.taxandland.pe.ca
Canadian Revenue Agency
1 (800) 959 5525