The world is figuratively shrinking a little more every single
day. Remote collaboration, online shopping, digital logistics and
management systems, and great improvements in high-bandwidth
availability has made the marketplace increasingly global,
connecting businesses with workers, producers, suppliers, and
customers from all around the globe.
In recent years, access to the international marketplace has
increased to unprecedented levels—which exposes considerably
more unwitting businesses to major tax risks that could result in
severe financial penalties, high interest charges, and, in more
extreme cases, jail time.
How Tax Compliance Services Keep You On-Side
There is a well-known adage that asserts "Nothing is
certain but death and taxes." Both are inevitable, and when it
comes to taxes, non-compliance can land you in very hot water.
Being tax compliant means that you and your business are submitting
all required tax payments, records, and information to the relevant
government authorities on time. As companies grow and become more
complex – and as they expand to cross-border or international
markets – remaining compliant with all the statutory
accounting and tax reporting requirements becomes increasingly
At Fuller Landau, our
tax specialists have experience dealing with both international
and domestic tax issues, and stay up-to-date with the various
statutory requirements and legislative changes both in Canada and
Our skilled tax consultants will be able to advise you on how
best to deploy your resources to avoid unnecessary taxes while
keeping compliant with international laws and the tax codes of all
countries in which you do business.
If you're already conducting international business, our tax
specialists can reassess the current state of your international
dealings, making sure you're currently receiving all due tax
benefits while putting to rest any compliance issues that might be
creeping up on you.
Need International Tax Compliance Services?
There are a number of conditions in which a business should seek
out international tax compliance advice from a knowledgeable
Canadian companies who make out-of-country sales
Canadian companies that import supplies, raw materials, or
components from overseas to be assembled in Canada
Canadian companies with outlets, branches, or satellite offices
outside of Canada
Canadian companies with workers or contractors who are
residents of other countries and work remotely
Canadian companies who have Canadian employees working in
foreign countries, either on short-term or long-term foreign
Foreign companies who export their products to Canada
Foreign companies who employ Canadian residents
Foreign companies with outlets, branches, or satellite offices
Any company that brings foreign employees into Canada to work,
either on short-term or long-term foreign assignments
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Recently, I was contacted by a small business owner who had an unpleasant conversation with a CRA collections officer about an outstanding GST/HST assessment against his small company (of which he was a director).
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