Overpayments made in sales taxes and accounts payable are difficult to measure, but may affect every facet of an organization. Accounts payable alone represents the single largest outflow of working capital in most corporations. A well-designed audit of overpayments represents a substantial opportunity for recovery of cash.
Common disbursement issues in the accounts payable system include: duplicate billings and payments, discounts and credits not taken, payments to wrong vendors, payments for the wrong unit price or quantity, payment for goods returned and a vendor’s non-compliance to terms.
Minimizing the cost of sales taxes requires a deep analysis of the full scope of an organization’s transactions in the context of upgrades to accounting systems and evolving legislation across all affected jurisdictions.
Our teams of tax specialists, lawyers, and former government auditors and workers' compensation specialists from a wide range of industries work to help you recover cash to operate your business, undertaking a detailed examination of your systems and vendor contracts with exacting precision.
The Deloitte solution
The sales tax recovery specialists at Deloitte deal with these challenges on a daily basis. Our solution includes the following:
Deloitte delivers deep knowledge of tax and statutory requirements as well as a breadth of experience applying them in practice worldwide. Practical, innovative tax services combined with our globally-managed tax compliance framework instills confidence that a consistent approach is followed in all jurisdictions.
|Customs and global trade
Our professionals help design strategies and structure global transactions to reduce customs duty payments and other international trade costs, increase duty recoveries and help ensure legal and regulatory requirements are met in a cost-effective manner.
|Indirect tax (GST, HST, PST or VAT)
Deloitte can help with timely planning and the application of technology-based compliance management solutions, thereby helping to reduce costs, reduce risk, and increase the confidence that nothing has been missed.
Deloitte’s international tax professionals help multinational companies reduce taxes on earnings, enhance margins and grow their businesses through a wide variety of compliance and advisory services.
Deloitte Legal professionals bring a strong combination of tax and legal knowledge to provide clients comprehensive guidance across a broad range of critical business issues.
|Mergers and acquisitions
Deloitte can assist your company with effectively navigating the myriad of tax, accounting, legal, regulatory, cultural, and labour issues in cross-border transactions to help manage compliance risks and potentially enhance returns.
|Private company services
Deloitte helps private companies, their owners, and individuals with substantial assets apart from businesses they directly operate to understand, plan and execute effective business and tax strategies.
|R&D and government incentives
With practitioners who are fluently trilingual in engineering, tax and “CRA”, we have assisted thousands of public and private companies to realize a sizable R&D tax credit.
|Tax management consulting
With tax technical, technology, and consulting experience, Deloitte helps businesses meet the challenges of multijurisdictional tax operations, including compliance, reporting and risk management for direct and indirect taxes.
Our network of professionals is designed to help companies reduce risks by aligning practical transfer pricing solutions with their overall global business operations and objectives, assist with strategic documentation to support their transfer pricing practices, and resolve disputes efficiently.
|U.S. tax services
Our accessible Canadian network of U.S.-trained tax professionals are linked to their U.S. colleagues, creating a powerful team for companies with operations in the United States.