Canadian and non-resident businesses should take stock of tax changes announced during the past year.
Canadian and non-resident businesses should take stock of tax changes announced during the past year. In particular, many Canadian and foreign businesses face new and recent sales tax changes and deadlines as a result of ongoing GST/HST, QST and other indirect tax-related developments. As the end of the year approaches, businesses may want to review all their 2020 sales tax obligations and ensure that they have properly filed all their indirect tax returns that were subject to relief due to COVID-19. Affected companies should also ensure that they are meeting all their new obligations under the ratified trade deals between Canada, Mexico and the United States. As a result of some of these changes, many businesses will continue to contend with upcoming new obligations, and uncertainty and adjustments to systems and processes.
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