Furthermore, there are excise taxes specific to various products. Commodity taxes are governed by a unique set of regulations and laws that are quite different from income tax rules. As a business owner, it is your responsibility to properly collect and remit the appropriate amount of tax and to register officially.
Furthermore, you need to be aware of the various tax credits that you may be eligible to claim and tax planning with the support of an HST lawyer in Toronto can help you to reduce the amount of taxes payable and to optimize your credits. When it comes to non-residents, input tax credits, real property, financial services, e-commerce, telecommunications, cross-border transactions and more, the support of an attorney is highly beneficial to any business that has questions about their responsibilities and how to respond to notices that indicate that there could be a problem.
Avoiding further escalation with an existing problem and ensuring that you have access to legal support if an audit is started can make a big difference in the outcome of your case and in how you prepare for future issues as well. The sooner you can form a relationship with a lawyer, the more confident you’ll feel about sales taxes.