The new QST rate, in effect January 1, 2011, affects the work of staff members dealing with finances at Concordia
The Quebec Sales Tax (QST) rate increased to 8.5% effective January 1, 2011. Concordia’s Financial Services has posted instructions to budget officers and those dealing with finances on how to treat the increase of the QST rate.
The transitional rules require the new QST rate to apply on invoices for materials dated on or after January 1, 2011.
For full details on other types of transaction, including how to issue invoices to external customers, payment terms, deposits, advance payments, refunds, progress billings, deferred payment and paying invoices from vendors, please see the Financial Services announcement.
Related links:
• Announcement with full instructions
• Financial Services site
