|EU Member State||No|
|Standard VAT/GST rate||5%|
|Reduced VAT/GST rate||Depend on province|
|VAT registration limit for established businesses||Yes|
|VAT registration limit for non-established businesses||Yes|
|VAT return filing periods||Monthly / Quarterly|
|Annual VAT returns||Yes|
|Additional reporting requirements||Yes|
|VAT recovery by non-established non-EU businesses||No|
|Fiscal representative required for non-EU businesses||No|
|Statute of limitations||A reassessment of the tax payable by a corporation that is not a CCPC may be made within four years from the date of mailing of the original notice of assessment, usually following a detailed field audit of the return and supporting information. The limitation period is three years for CCPCs. The three-year and four-year limits are extended a further three years in some cases (e.g. transactions with non-arm’s-length non-residents). Reassessments generally are not permitted beyond these limits unless there has been misrepresentation or fraud. Different time limits may apply for provincial reassessments.
For taxation years ending after 2 October 2016, recently enacted legislation allows the CRA to reassess tax, after the end of the normal reassessment period, on a gain from the disposition of real or immovable property if the taxpayer does not initially report the disposition.