Reporting and Paying Tax
Reporting and paying tax means filing a tax return and paying the government the tax you collected on your sales and PST you owe on the purchases you made to run your business.
Whether you are a business, accountant or bookkeeper, you have the following options for reporting and paying PST and municipal and regional district tax (MRDT) (if applicable).
However, if your business has $1.5 million or more in total Canadian sales and leases in the last 12 months, you must file your tax returns and pay your taxes electronically.
Your completed tax return and payment must be received on or before the last day of the month following the end of the reporting period.
If the due date falls on a weekend or a B.C. statutory holiday, your tax return and payment are due the first business day following the due date.
If you’ve signed up for an eTaxBC account, you’ll receive an email from the ministry when your return(s) are ready instead of a paper return. You can log in to eTaxBC 24/7 to complete the report and pay process. This is the easiest and fastest way to file your return(s) and pay your taxes.
If you report and pay tax in person or by mail, you will receive a paper return from the ministry when it’s time to report and pay your taxes. If you don’t receive your return in time, you can complete a blank form:
- Provincial Sales Tax Return (FIN 400) (PDF)
- Municipal and Regional District Tax Return (FIN 401) (PDF)
Please note that financial institutions cannot accept blank forms as these forms don’t contain the ministry’s account information.
Once we process your PST registration we will assign you an ongoing reporting period that starts the first day of the month you apply to register. This will be determined by what kind of business you operate and how much tax you collect each year. Most businesses report and pay monthly, but you can also report and pay quarterly, annually and semi-annually depending on how much tax you collect.
Note: If you are required to be registered but have not applied, you are still required to collect and pay PST on your sales and leases. For more information, read Charging, Collecting and Remitting PST (Bulletin PST 002) (PDF).
Registered businesses that collect and pay PST as required and on time are entitled to receive a commission of up to $198 per reporting period.
Businesses with more than one PST account may claim commission for only one account. There is no commission available for the collection of MRDT, which must be reported separately from the PST.