On February 28, 2020, the Tax Court of Canada (TCC) released its decision in Zomaron Inc. v. The Queen (2020 TCC 35). The TCC’s decision confirms that independent sales organizations (ISOs) are providing an exempt financial service to payment processors that are members of the credit card payment network (Acquirers) when they:
- are retained to find prospective merchants that require payment processing services, and
- negotiate the contracts for the Acquirer’s provision of payment processing services to the merchants
Source PWC
