If you’re a business owner frequently incurring expenses in Canada, you may be eligible for significant reclaim opportunities. How? Like most countries, Canada charges a consumption tax on most goods and services. This tax is referred to as either Goods and Services Tax (GST) or Harmonized Sales Tax (HST). Depending on where the expense took place in Canada, the GST or HST can range from 5-15% of the cost incurred.
However, businesses don’t have to settle for leaving their GST/HST portion on the table. In fact, businesses may be eligible to reclaim their GST/HST costs without necessarily needing to make sales in Canada or have a permanent establishment in the country. How? Cue foreign VAT reclaim solutions.
In this article, we’re diving into the Canadian consumption tax system and how overseas claimants can recover a portion of their expenses in Canada. Here’s what you need to know about GST and HST and how streamlined foreign recovery solutions can boost your bottom line while protecting your critical resources, time, and money.
Our foreign VAT reclaim specialists are well-versed in the art of dealing with local reclaim processes, tax authorities, and legislation to help you maximize GST recovery in Canada. But first, let’s set the groundwork.
Source: vatit.com
