Administrative Policy
23 March 2017 CBA Commodity Taxes Roundtable, Q.17
reversal of s. 218 tax if NR vendor assessed for Div. II tax
Where a Canadian financial institution self-assessed itself for Division IV GST on an imported supply from an unregistered non-resident and then CRA assesses the non-resident for failure to have registered and to have collected and remitted GST on that supply:
the financial institution would be able to request to have its return reassessed in order to have the amount that was originally included as Division IV tax removed and refunded to the financial institution subject to the applicable legislative time limit.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Excise Tax Act - Section 261 - Subsection 261(1) | rebate where CRA assesses non-resident for not charging Div. II tax where the recipient had already self-assessed Div. IV tax | 334 |
| Tax Topics - Excise Tax Act - Section 296 - Subsection 296(6) | CRA can assess to reverse self-assessed Div. IV tax if it has assessed the non-resident for uncharged Div. II tax | 118 |