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Goods and services tax (Canada) The goods and services tax (GST) (French: taxe sur les produits et services, TPS) is a multi-level value added tax introduced in Canada on January 1, 1991, by then-Prime Minister Brian Mulroney and his finance minister Michael Wilson.
BPC, Articles and Glossary. TPS: Transaction Processing Systems. Definition: A Transaction Processing System (TPS) is a type of information system that collects, stores, modifies and retrieves the data transactions of an enterprise. A transaction is any event that passes the ACID test in which data is generated or modified before storage in an information system.