Certain wholesalers and retailers in Newfoundland and Labrador may need to update their systems because of new tax obligations related to the upcoming tax on sugar sweetened beverages. This "sweetened beverage tax" of 20 cents per litre, which is effective September 1, 2022, also requires wholesalers who sell these drinks to issue invoices that contain specific details (which the province is expected to outline soon).
These recently enacted measures also outline:
- When the sweetened beverage tax is payable
- Exempt beverages
- Rules for imports of sugar-sweetened beverages into the province
- Who must collect and remit the sweetened beverage tax and the related remittances deadlines.
For more information, contact your KPMG adviser.
Information is current to December 13, 2021. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500