Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 10/18/2012

Canada - Ontario RST refund deadline is 31 December 2012 

October 18: The deadline to claim refunds to recover overpaid Ontario retail sales tax (RST) has been shortened this year to no later than 31 December 2012.

Businesses may have overpaid Ontario RST and other taxes for reasons including:


  • Incorrectly applying transitional rules for Ontario RST and HST (harmonized sales tax)
  • Paying Ontario RST on exempt goods and services
  • Paying Ontario RST on goods or services consumed outside of Ontario
  • Incorrectly valuing self-assessed taxable goods and services
  • Making errors in self-assessment and processing
  • Having RST issues related to coupons and loyalty programs
  • Adjusting sales amounts

Like businesses, many public sector organizations have overpaid Ontario RST and other taxes for similar reasons. Also, these organizations may have overpaid because they may not have claimed various exemptions specific to them, including exemptions for some publications and other printed matter and for prepared food products.


These overpayments of taxes are often recoverable if claimed before specific deadlines. For Ontario RST, this deadline is 31 December 2012.


Read an October 2012 report prepared by the KPMG member firm in Canada: Act Now - Ontario RST Refund Final Deadline Looming




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The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to go-fmtaxnewsflash@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

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