Keeping above-board: The dangers of non-compliance in cross-border business

Fuller Landau team • September 19, 2016

The world is figuratively shrinking a little more every single day. Remote collaboration, online shopping, digital logistics and management systems, and great improvements in high-bandwidth availability has made the marketplace increasingly global, connecting businesses with workers, producers, suppliers, and customers from all around the globe.

In recent years, access to the international marketplace has increased to unprecedented levels—which exposes considerably more unwitting businesses to major tax risks that could result in severe financial penalties, high interest charges, and, in more extreme cases, jail time.

How Tax Compliance Services Keep You On-Side

There is a well-known adage that asserts “Nothing is certain but death and taxes.” Both are inevitable, and when it comes to taxes, non-compliance can land you in very hot water. Being tax compliant means that you and your business are submitting all required tax payments, records, and information to the relevant government authorities on time. As companies grow and become more complex – and as they expand to cross-border or international markets – remaining compliant with all the statutory accounting and tax reporting requirements becomes increasingly difficult.

At Fuller Landau, our tax specialists have experience dealing with both international and domestic tax issues, and stay up-to-date with the various statutory requirements and legislative changes both in Canada and abroad.

Our skilled tax consultants will be able to advise you on how best to deploy your resources to avoid unnecessary taxes while keeping compliant with international laws and the tax codes of all countries in which you do business.

If you’re already conducting international business, our tax specialists can reassess the current state of your international dealings, making sure you’re currently receiving all due tax benefits while putting to rest any compliance issues that might be creeping up on you.

Need International Tax Compliance Services?

There are a number of conditions in which a business should seek out international tax compliance advice from a knowledgeable Canadian advisor:

  • Canadian companies who make out-of-country sales
  • Canadian companies that import supplies, raw materials, or components from overseas to be assembled in Canada
  • Canadian companies with outlets, branches, or satellite offices outside of Canada
  • Canadian companies with workers or contractors who are residents of other countries and work remotely
  • Canadian companies who have Canadian employees working in foreign countries, either on short-term or long-term foreign assignments
  • Foreign companies who export their products to Canada
  • Foreign companies who employ Canadian residents
  • Foreign companies with outlets, branches, or satellite offices within Canada
  • Any company that brings foreign employees into Canada to work, either on short-term or long-term foreign assignments

If your company is involved in cross-border or international business, don’t take any chances. Speak to a Fuller Landau tax specialist today.


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