When your business deals with products and services with different GST/HST rate, furthermore when you have a business in multiple provinces across Canada where each province has its own jurisdiction for the sales tax, it’s time to involve us to conduct HST review or internal sales tax audit. We found this practice brings high ROI to enterprises, not to mention the risk for the mistake in HST remittance to CRA is not affordable to any business.
We basically perform the following low-level and high-level tasks during the practice:
- Identify and document all GST/HST impacted transactions in the organization’s operations and the technical positions that relate to them
- Process and report GST/HST transactions in an accurate, complete and timely manner
- Examine the correctness of GST/HST/PST rate applications for various provinces
- Optimize ITC processes
- Monitor the effectiveness of GST/HST administration
- Manage changes that impact on GST/HST administration
- Establish an internal control environment that effectively supports GST/HST processing
- Apply a risk management approach to GST/HST administration