Many businesses, including certain platform operators, retailers, and importers, must account for tax changes in 2024 and prepare for upcoming tax measures in 2025 as a result of recent developments related to GST/HST, QST, provincial sales tax (PST) and other indirect taxes. To help you consider these changes, as well as certain upcoming deadlines, we have summarized some of the significant developments and rules. In light of these measures, businesses should take proactive steps to manage their indirect tax compliance obligations, risks and unrecoverable tax costs.
In addition to these developments, businesses should be aware that they may face increased audit queries as the tax authorities continue to ramp up their audit activities. As a result, businesses should ensure they meet all their audit timelines and respond promptly to audit queries to help limit issues in reassessments.
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