Canadian Sales Tax Recovery

What is Canadian Sales Tax Recovery?

Canadian Sales Tax Recovery is a 3-part service that PM Business Advisors has created. It includes Reverse Sales and Use Tax Audits, Accounts Payable Recovery Audits, and Special Canadian Sales Tax Issues.

What is a Reverse Sales Tax Audit?

With our knowledge and experience, we review our Client’s records to identify over and underpayments, missed input tax credits, incorrect currency conversion, and other issues such as various discounts and deposits. For more information on Reverse Sales Tax Audits click here.

What is an Accounts Payable Audit?

An AP audit entails reviewing supplier pricing terms to ensure that they are respected. In addition, it involves reviewing duplicate payments to make sure they are avoided. Lastly, it includes the reviewing of pricing discounts to make sure they are applied and take advantage of per the agreements between company and supplier. For more information on Accounts Payable Audits click here.

What are Special Canadian Sales Tax Issues?

As part of the comprehensive audit, we apply special proprietary issues that provide additional credits outside of the regular Accounts Payable input tax credits.

These are issues that we reveal for the client to recover retroactively and benefit on a going-forward basis.

Why Should I conduct a Canadian Sales Tax Recovery Analysis?

US companies that are registered and file GST returns overpay sales tax 85% of the time. Also, most US companies are not conducting periodic reverse audits.  This leads to a significant loss of money to the Government of Canada.

How PMBA Can Help

PM Business Advisors is uniquely positioned to help clients reclaim the overpaid tax dollars from the Canada Revenue Agency and to ensure their systems are compliant with the most recent legislative changes.  Our team of local Canadian Sales Tax Experts allows us to drive savings through our audit review process to identify over and underpayments, missed input tax credits, incorrect currency conversion, and other issues such as various discounts and deposits.

We apply special proprietary issues that provide additional credits outside of the regular Accounts Payable input tax credits.

PM Business Advisors also manage the refund claims from beginning to end and provide continuous support in the future. We work directly with the tax authorities should they have any questions regarding the refund claims.

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