To be eligible to claim an ITC or ITR, you must have at hand supporting documents presenting all of the prescribed information. If you do not have such documentation or if such documentation does not indicate all of the prescribed information, the tax authorities could refuse your ITCs and ITRs in an audit.
Be sure that you have the supporting documents required for your ITCs and ITRs.
Generally, as a registrant for Goods and Services Tax (GST) and Quebec Sales Tax (QST) purposes, you may claim input tax credits (ITCs) and input tax rebates (ITRs) for expenses incurred for consumption, use or supply in connection with your commercial activities.
Pursuant to the GST and QST rules, supporting documents include: an invoice, receipt, credit card bill, debit note, accounting ledger or record, a written agreement, any record in a computerized or electronic documentary research system or database, any other document validly delivered or signed by a registrant for supplies made on which tax was paid or is payable.
Moreover, when the total amount paid or payable amounts to $150 and more, supporting documents must indicate the name of the recipient of the supply (or the name under which the business is carried out), the name of the recipient’s agent (or the name under which he/she does business) or the name of the recipient’s authorized representative. Revenu Québec has already issued certain guidelines, summarized below, to help taxpayers comply with requirements relating to the identification of the recipient of a taxable supply and regarding the supporting documents required for claiming ITCs and ITRs.
If you conduct business in Quebec, you are usually required to register with the Registraire des entreprises by submitting a declaration of registration containing your name and any other name you’ve used to conduct business in Quebec. In these circumstances, the following names are deemed acceptable for identifying the recipient for GST and QST purposes: the name appearing on your article of incorporation, and any name under which you carry out business, as indicated in the declaration of registration submitted to the Registraire des entreprises.
It is possible that your business is not registered with the Registraire des entreprises or that you are carrying out business under a name not declared in your declaration of registration. In these circumstances, the tax authorities consider that the following names meet GST and QST requirements: the name appearing on your articles of incorporation or the name under which you carry out business insomuch as there is no doubt as to your identity. Accordingly, if the name indicated in the supporting document raises doubt as to the recipient’s identity, this information does not meet legislative requirements for claiming ITCs and ITRs. In fact, it does not constitute sufficient evidence for proving that the person registered for GST and QST purposes is the true recipient of the supply.
If your ITC and ITR claims are keeping you up at night, contact us immediately. We would be pleased to help you.
To be eligible to claim an ITC or ITR, you must have at hand supporting documents presenting all of the prescribed information. If you do not have such documentation or if such documentation does not indicate all of the prescribed information, the tax authorities could refuse your ITCs and ITRs in an audit.
Be sure that you have the supporting documents required for your ITCs and ITRs.
Generally, as a registrant for Goods and Services Tax (GST) and Quebec Sales Tax (QST) purposes, you may claim input tax credits (ITCs) and input tax rebates (ITRs) for expenses incurred for consumption, use or supply in connection with your commercial activities.
Pursuant to the GST and QST rules, supporting documents include: an invoice, receipt, credit card bill, debit note, accounting ledger or record, a written agreement, any record in a computerized or electronic documentary research system or database, any other document validly delivered or signed by a registrant for supplies made on which tax was paid or is payable.
Moreover, when the total amount paid or payable amounts to $150 and more, supporting documents must indicate the name of the recipient of the supply (or the name under which the business is carried out), the name of the recipient’s agent (or the name under which he/she does business) or the name of the recipient’s authorized representative. Revenu Québec has already issued certain guidelines, summarized below, to help taxpayers comply with requirements relating to the identification of the recipient of a taxable supply and regarding the supporting documents required for claiming ITCs and ITRs.
If you conduct business in Quebec, you are usually required to register with the Registraire des entreprises by submitting a declaration of registration containing your name and any other name you’ve used to conduct business in Quebec. In these circumstances, the following names are deemed acceptable for identifying the recipient for GST and QST purposes: the name appearing on your article of incorporation, and any name under which you carry out business, as indicated in the declaration of registration submitted to the Registraire des entreprises.
It is possible that your business is not registered with the Registraire des entreprises or that you are carrying out business under a name not declared in your declaration of registration. In these circumstances, the tax authorities consider that the following names meet GST and QST requirements: the name appearing on your articles of incorporation or the name under which you carry out business insomuch as there is no doubt as to your identity. Accordingly, if the name indicated in the supporting document raises doubt as to the recipient’s identity, this information does not meet legislative requirements for claiming ITCs and ITRs. In fact, it does not constitute sufficient evidence for proving that the person registered for GST and QST purposes is the true recipient of the supply.
If your ITC and ITR claims are keeping you up at night, contact us immediately. We would be pleased to help you.
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