In a retail business, input tax credits for merchandise are calculated on the amount of purchases, not on the cost of goods sold. True False Providers of zero-rated goods are not allowed to claim input tax credits. True False Prescription drugs, cleaning services, and haircuts are all examples of fully taxable supplies in Canada. True False Providers of health care services and providers of financial services to Canadian residents do not charge GST on their sales. True False In Canada, our Value Added Tax (VAT) system is assessed on gross sales. The taxpayer is then provided with a credit based on purchases made. No accounting based determination of income is required. True False