Sales Tax
Our Sales Tax group provides two service offerings:
Review Foundation
Our sales tax review combines high levels of tax and accounting expertise with the innovative use of technology. Conducted exclusively by professional accountants, this individually-tailored review is designed to handle millions of transactions. It yields three reports:
- Profit Recovery Report
Within three weeks of the conclusion of our review engagement, we prepare and deliver a comprehensive, well-documented report, in both hard copy and CD Rom, detailing the results of the review. This report provides invoice-by-invoice schedules of findings by type, including full documentation and any necessary steps required to be taken to recover overpayments. Definitive also prepares the necessary refund claims for review, approval and signature. Definitive then provides for their subsequent follow-up with tax authorities. No additional work is required by client staff.
- Process Improvement Report
To assist clients in streamlining their processes, we provide a Process Improvement Report within three weeks of the conclusion of every review engagement. This report is an excellent ’executive summary’ of the results of our review. It outlines all recoveries identified by us and offers an analysis and discussion of the types of anomalies noted during the review process. It also gives a roadmap, with detailed recommendations, to assist organizations with correcting the structural issues that led to those anomalies, to minimize them going forward. The report also highlights, in detail, any operational challenges faced by the client in the processing of Canadian sales tax, with the net objective of maximizing the profitability of the finance, tax, A/P and purchasing departments. Both this report and our client service professionals play significant roles in the transfer of sales tax knowledge to key members of the organization.
- Liability Identification Report
Within four weeks of the conclusion of our review engagement, we provide each client with a liability identification report. This report is a key component in our commitment to assisting clients in reaching their goal of Canadian sales tax compliance. During the engagement, our tax professionals note areas of sales tax underpayment in the purchasing and A/P cycle. These exposure areas would typically be accumulated and discussed with appropriate staff on an ongoing basis. At the conclusion of the engagement, these exposure areas are incorporated into a confidential written report and are submitted to our primary contact. The report details each area of sales tax exposure and provides specific government commentary on it. This report, along with access to our client service staff, demonstrates a commitment to a collaborative process that assists client staff in identifying and resolving exposure issues where necessary.
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High Value Services
- Process Improvement
Definitive facilitates sales tax process improvement via four support programs:
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- Process Improvement Report
Identifies types of anomalies and provides a roadmap for correcting structural issues leading to anomalies.
- Sales Tax Courses
Our in-house and web based courses help optimize the understanding of sales tax issues and processes at each level of your organization.
- Publications
Regular emails, on-line publications and our website provide access to information that can help prevent errors and inconsistencies.
- On-line NewsHub
Our NewsHub is updated frequently to include the latest tax news, legislative highlights and quick access to our expertise. Visitors can subscribe to receive automatic notifications for information of interest.
- Exposure Reporting
Our Liability Identification Report is a customized summary of exposures noted during the course of our sales tax review. It includes a discussion of tax rules surrounding identified exposures and provides legislative documentation to support the discussion.
- Research and Advisory Assistance
Staffed by recognized sales tax experts, this service creates significant value for clients. It can save tens of thousands of dollars in per diem consulting fees.
- Audit Assistance
Our reviews of proposed audit assessments have proven very successful in reducing the amount of our clients' final assessments.
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