Specific Issue Reviews

Introduction

Commodity tax laws are continually evolving and being reinterpreted in the courts. Fairtax stays on top of these changes through daily tax reporting services and communication among its team of consultants across Canada, as well as with government officials, auditors, tax lawyers and others in the tax community.

When a new issue arises, Fairtax promptly pinpoints those entities that may benefit from the issue and contacts them immediately.

As skilled and focused Tax Recovery Specialists, Fairtax has knowledge of issues that are simply not covered by other tax recovery companies or accounting firms.

Issue Divulgence

Potential issues cover a wide range of GST, sales tax, payroll program incentives and financial issues not captured by general reviews or internal audits.

Often a refund claim will need to be filed in advance of a court action to avoid the prospect of the tax authorities statute barring claims that are not part of the original action.

For some companies the potential to apply multiple issues may exist. If so, a face-to-face meeting is arranged to divulge the issues with the greatest potential, with the understanding that confidentiality is of material importance to Fairtax.

Issue Applicability & Review Process

Specific issue reviews have little impact on your daily operations. If we present an issue and it is determined to apply to your firm, the refund amounts are typically easily calculated and take very little time to prepare.

Fairtax simply needs the accounting information necessary to compile the specific claim, which will include downloads of relevant data in some cases.

Reporting and Filing Procedures

Upon completion of the review of the issues concerned, Fairtax provides a comprehensive report on each issue which includes:

• the details of all recoveries
• the scheduling of all relevant vouchers
• copies of all refund submissions made, with all supporting documentation

The client may choose to authorize Fairtax to act on its behalf with the relevant tax authorities for any recoveries filed.

Please note: A Specific Issue review is not an audit. Accordingly, the review will not result in the detection of all potential recoveries or liabilities.