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Tax Policy

Tax shown on purchase receipt refers to tax collected by CFA® Institute and not necessarily tax due to state and local taxing agencies. Customers may be individually subject to tax for purchases where CFA Institute does not collect tax. Customers should contact their local tax adviser regarding the taxability of their online purchase if they are uncertain about their tax liability related to this purchase.

Residents of the United States

  • Residents of California (CA), District of Columbia (DC), Georgia (GA), Illinois (IL), Massachusetts (MA), New Jersey (NJ), New York (NY), North Carolina (NC), Pennsylvania (PA), Tennessee (TN), Texas (TX), and Virginia (VA) may be charged sales tax depending upon the taxability of the specific product purchased.
  • Colorado residents are liable for use tax for online purchases of taxable products and/or services delivered to Colorado. Please consult your personal tax adviser or the Colorado Department of Revenue for additional information regarding your use tax liability.

Outside the United States

International sales and conference registration fees may be subject to applicable VAT and GST.


CFA Institute Canadian business number for GST is 12413 4602 RT0001.


Chinese residents are subject to the Chinese value-added tax on exam-related fees, membership dues, and conference fees.


If you are residing in India, you are subject to the Goods and Services Tax (GST) for Online Information Database Access and Retrieval services (OIDAR), a category of services provided through the medium of internet and received by the recipient online without having any physical interface with the supplier of such services.

If you are a registered GST taxpayer under India GST regulations and hold a valid registration certificate on the date of payment for the relevant fees and GST, you are eligible for the GST collected to be refunded to you under OIDAR services. Please contact the India GST Team and provide your Indian GST registration certification number, your full name (as it appears on the GST registration certificate, which must be the same as the full name we have on file with your CFA Institute account), your CFA Institute ID and your receipt number. Upon receipt of the information submitted and verified we will process your request accordingly. 


Singapore residents are subject to Goods and Services Tax on exam-related fees, membership dues, and conference fees.
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