Indirect Tax Services
While many businesses are on top of their income tax issues, many are not aware of the impact and pitfalls that can arise from indirect tax issues. Canada operates within a complex indirect tax system. While some provinces have harmonization between federal and local indirect taxes, others operate with separate tax systems. To further complicate matters, the lack of indirect tax harmonization across our country can be a challenge for domestic and foreign corporations operating in Canada.
Indirect taxes, also known as commodity taxes, are usually transaction based and include everything from the federal Goods and Services Tax (GST), the blended federal / provincial Harmonized Sales Tax (HST) to the Provincial Sales Taxes (PST) levied by many provinces. They also include excise taxes levied on inelastic goods such as fuel, tobacco and alcohol. To effectively meet all your filing obligations and to claim all the benefits to which you’re entitled, it’s important to work with experienced professionals. MNP’s tax team has a wealth of experience in this area and will develop tax minimization strategies to meet your business needs.
How MNP Can Help
MNP’s experienced tax professionals have the most up-to-date knowledge of Canada’s tax landscape. We use that knowledge and insight to help you formulate, implement and manage your indirect tax issues. By understanding your business’ unique needs, we ensure that you meet your obligations in all relevant jurisdictions and take advantage of any refund opportunities.
We work closely with you to deliver effective sales tax minimization strategies, including:
- Providing indirect tax planning for business start-ups and expansions (domestic or foreign)
- Developing and reviewing systems and procedures
- Assisting you with training and compliance
- Providing advice on indirect tax implications on a purchase or sale of a business, including due diligence reviews
- Preparing Canada Revenue Agency ruling requests
- Assisting with audits and appeals, such as corresponding with tax authorities and preparing notices of objection
To find out what MNP can do for you, contact your local tax advisor, Heather Weber, CGA, Indirect Tax Services Leader at 1.877.766.9735 or any member of our Indirect Tax Team.