PROCESSES
Our Transaction Tax Recovery service can be customized to fit your company’s specific needs. Our review process includes a review of all transaction taxes paid, including:
- Sales tax paid to vendors
- Self-assessed use tax
- Sales and use tax paid in state audit assessments
- Fuel excise tax
- Gross receipts tax
- Canada sales tax (GST/HST, PST, and QST)
- Provincial sales tax (PST)
- Value added tax (VAT)
Our tax recovery process includes the following:
- Identify potential tax recovery opportunities
- Prepare schedules and supporting documentation
- Cite statutes, regulations, and court cases to substantiate findings
- File refund claims with tax jurisdictions and vendors as required by statute
- Work with tax authorities and vendors until the tax refund check or credit is received
- Prepare GST/HST, PST, and QST input tax credit claims for filing on a current return
- Identify and report any tax liability findings to minimize future underpayments
- Provide customized training with recommended solutions designed to eliminate future tax errors
- Provide direct access to senior tax professionals to answer general tax questions and queries
Our review identifies potential gaps in all transaction tax processes while confirming those that are sufficient. DMA’s transaction tax recovery team will educate your personnel and recommend solutions to eliminate the risk of future transaction tax errors. We also provide potential technology solutions to address the identified gaps within the tax policy that created the tax overpayment or underpayment.
CLIENT SPOTLIGHT
“Our company is vertically integrated with our own manufacturing facilities, distribution centers, fleet of trucks and local delivery vans, and company-owned stores. This has lead to a vast array of special purpose software platforms interconnected into our Oracle system. This makes our company’s sales and use tax position highly complex. DMA has proven time and time again as a valued partner in reducing our audit results, obtaining refunds and exploring solutions to our sales and use processes. They work well with our team, and more importantly, work very well with auditors in our largest states we operate in.”
Larry Boron – Vice President, Tax
The Sherwin-Williams Company
