Every country has their own form of sales tax that are decided by the central government or states and territories.
- United States Sales Tax: There is no national tax in the United States. This means the states have absolute authority over how much tax is paid and how sales tax is governed. The forty-five individual states in the US as well as the capital, Washington have a sales tax. Five other states do not have any sales tax. The revenue from the sales tax goes to building hospitals, schools, roads and creating public safety measures. These items are also governed at state level.
- United Kingdom Sales Tax: Sales tax in the UK and EU is also attributed to the decisions of each state and territory like the US. In the EU the member countries get to decide the rate of their sales tax. But U.K allows tax exemption up to £85,000 in sales before a business has to register for VAT. Which means up to £85,000 businesses are allowed to remit sales tax. This threshold amount is variable and different for each of the countries in EU. There are also good options available for financing through Moneral.fi.
- Canada Sales Tax: If you own a business in Canada, you have to collect tax from customers for goods and services provided on many of the items that they are purchasing. The types of tax you should collect from the territory or province are either only GST, or HST or a combination of PST and GST. The HST combines with GST and PST to create a single tax system. If any province you are operating out of participates in HST, you should collect sales tax. Alberta, Yukon, Nunavut and Northwest territories have a 5% GST.