2. INTRODUCTION
Many businesses in North America who do business in or with Canada
often pay more sales taxes than they are legally required to pay to the
Canadian authorities.
In other cases, some under pay the required taxes and are faced with the
potential for government assessments, penalties and interest charges.
These companies stand to benefit immensely from our services.
VATWIZARDS INC. is a provider of Canadian Sales Tax recovery and
exposure analysis services for companies in Canada and the USA.
Most services provided are on a contingency basis. Our contingency fees
are reasonable. We also provide certain services on an hourly basis.
Companies incur no costs if no tangible savings are realized. Our
electronic data analysis methods save our clients time and money.
WHO WE ARE
VATWIZARDS INC. is a service provider for companies in North America in
the following areas:
• Canadian Goods and Services and Harmonized Sales Tax.
• Provincial Sales Taxes
• Quebec Sales Tax.
• European Value Added Tax.
3. VATWIZARDS’ specialists consist of accounting professionals and ex-
government auditors with many years of experience in their field of
expertise.
OUR PROCESS
Our approach to tax recovery is as follows:
1. IDENTIFYING THE POTENTIAL CLIENTS WHO MAY BENEFIT BY THIS
SERVICE.
a) A business should be selling goods and services to or in
Canada.
b) They must be registered for Canadian GST and file regular
GST returns with Canada Revenue Agency (CRA).
c) Optional - They have a business entity in Canada, a production
facility, an office, warehouse, distribution center or employees
in Canada. This is an optional condition and not necessary to
qualify as a potential client for recovery purposes.
Of these three conditions, the first two conditions should exist for a
client to qualify for a Canadian Sales Tax review.
2. TESTING SAMPLE DATA AND TAX RETURNS TO IDENTIFY POSITIVE
SIGNS OF CANADIAN GST OVER PAYMENTS.
This entails obtaining sample data from the company’s
systems for a period of 1 year or shorter than a year’s worth
for analysis in our offices to identify the indicators that may
exist possibly leading to overpaid taxes.
4. The data required for this purpose would be:
a) Copies of 4-5 GST Returns for each entity filing GST Returns.
Need only the one-page Return form filed electronically or
manually.
b) Download of the Canadian A/P and GST/HST Data for the past
12 months in XL format with the following fields
Note: This is required for all entities filing GST Returns.
Note: Only the AP relating to the Canadian part of your US
operations is required.
The fields required are:
A) FOR ACCOUNTS PAYABLE INVOICE DETAIL:
1. Entry or Voucher reference
2. Vendor Name
3. Invoice #
4. Invoice Date.
5.Total invoice value.
B) FOR GST/HST DETAIL:
1. Entry or Voucher reference
2. Vendor Name
3. Invoice #
4. Invoice Date.
5. GST/HST amount posted.
We will request for copies of invoices as required once the
analysis of data is completed by us.
5. 3. DOING A COMPLETE REVIEW
Once we identify positive signs that may show overpayments, we will
decide to do a full review of all data pertaining to Canadian operations for
a full four-year period. This is the statutory period that CRA permits that
tax payer can go back for recovery of overpayments.
At this stage, we will require the client to provide us a total download of
Canadian AP data, GST data and other GL account detail downloads that
may be relevant to the GST or HST review. The format of the downloads will
be similar to the details shown for the sample downloads above.
DELIVERABLES
On completion of the tax review we will provide to the client:
1. A comprehensive report on our findings with schedules and copies
of documents relevant to the refund claims.
2. Instructions on how to recover the funds from the Canada Revenue
Agency.
3. Any time access to us by Email in case of additional information
required or questions client may have going forward.
CALL- ROGER 1 416 838 3745
EMAIL – ROGER@VATWIZARDS.COM
Vatwizards Inc.
51 Louvain Dr., Brampton, ONTARIO
L6P 1Y9, CANADA.
(416) 838.3745
Web: www.vatwizards.com
