Canada
| Country | Canada |
|---|---|
| Currency | CAD |
| 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 |
| Reverse Charge | Yes |
| 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. |