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In general, transaction taxes are easy to administer and collect. true or false Canada uses the Invoice-Credit Value Added Tax method for GST/HST true or

In general, transaction taxes are easy to administer and collect.

true or false

Canada uses the Invoice-Credit Value Added Tax method for GST/HST

true or false

The GST is a commodity tax and is not applicable on services.

true or false

In a retail business, input tax credits for merchandise are calculated on the amount of purchases, not on the cost of goods sold.

true or false

A major advantage of using an invoice-credit VAT system as opposed to an account-based VAT approach is that this approach does not rely on an accounting measurement of income.

true or false

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