Reducing the tax burden is a significant competitive advantage for your company. These savings could finance part of your future investments and your development in the medium and long term. Property taxes are a major part of your operating costs. The tax cost of real estate is extremely complex and difficult to comprehend for non-specialists. Sales tax is are also very complex, with federal, provincial non-harmonized, and harmonized provincial taxes to consider, as well as varying rates depending on the type of goods and services. Lastly, transfer pricing is increasingly important in an environment of globalization where there is constant transfer from one subsidiary to another.
To help lighten the burden of your tax costs by helping you paying the right amount, Ayming relies on its knowledge of the operation of tax and municipal administrations. Our team will accompany you until the recovery of undue sums, and will help sustain the reductions put into place. In addition, Ayming's international presence provides global strategic support with local action.
Many factors contribute to the calculation of property tax. Any change in the use of the property, its sale price, demolition or construction will affect its value and the required payable taxes.
In addition, a property tax included in the rental fee represents a significant expense for any business manager and requires a second opinion. Municipal assessments are based on averages using comparative data. This practice can lead to a property tax amount higher than the actual values.
Challenging the value of a property is complex and requires specific know-how at each stage of the process.
Ayming's methodology consists of:
- Deploying a team of specialists, including an account manager who will manage the entire process and minimize the impact of the process on your organization. We have access to a team of appraisers, engineers and lawyers to manage your re-evaluation at every step of the process.
- Conducting an independent appraisal of your property and its use, if necessary. Ayming has completed over 7,000 property tax mandates.
- Negotiating a settlement to reduce the amount of property tax payable on your property. Using proven tools and industry-based comparative values, Ayming's specialists have generated significant savings for its clients.
Are you paying too much sales tax? Ayming can help. The variable nature of business environments can sometimes lead to the inefficiency of certain processes with respect to sales tax collection. Human errors inevitably affect your expenses. While automating procedures can simplify many day-to-day activities, it can also lead to inaccuracies that are difficult to identify. Companies that carry out multiple transactions at a high volume and call on different suppliers are sometimes forced to overlook significant expenses.
Over time these expenses end up having a serious impact on the bottom line. An independent review of sales tax expenses and procedures would isolate areas where sales tax was paid unnecessarily, helping you to recover lost profits. This review will identify where errors are produced by reducing overpayment caused by automating procedures, the different levels of human intervention, the number of suppliers, or the complexity of operations. Without regular monitoring and awareness of when and how overpayment can occur, margins of error remain possible and create often erroneous sales tax catches. These types of mistakes are unfortunately common and lead to an undeniable loss of profit. Ayming can help you reduce this loss.
Ayming's methodology consists of:
- Deploying a team of specialists to manage the entire sales tax recovery process. The Ayming sales tax specialists will manage the entire sales tax recovery process including: invoice analysis, reclamation of profits and refinement of the procedure.
- Reviewing available invoices, identify sales tax errors and recover lost profits. Ayming will look at the important data in your ledger, tax accounts, journal entries, and your previous public financial control assessments. An assessment of input tax credits (ITCs) will be conducted to identify discrepancies in recurring billing activities. The analysis of the periodic GST / HST collected, along with the average tax rate, will identify billing errors. We will also review your suppliers' invoices or journal entries to ensure that the input tax credits (ITC), specified goods and services are properly recalculated and submitted on the monthly GST / HST returns.
- Improving processes to identify sales tax calculation errors. Ayming will identify potential savings areas and highlight the GST / HST, RST, and QST errors identified during the analysis. Training of accounting and purchasing staff will be carried out on your premises in order to improve internal procedures. This will include recommendations for optimizing the costs of processing operations and accounting operations.
We deliver our service at no upfront cost and without risk. Ayming is a results-based consulting firm. Payment for our cost reduction consulting services is only required when your sales tax recovery is successful.
Transfer prices are the prices charged between companies of the same group located in different states. Undertakings are required to provide authorities with documentation demonstrating that intra-group invoicing complies with the arm's length principle.
Transfer pricing is now an important subject for auditing the various tax administrations, and documentation to demonstrate the methodology used becomes as important as the viability of the methodology itself.
Ayming's approach is to accompany you with a tailor-made solution based on 3 key dimensions:
- Diagnosis: analysis of your transfer pricing policy and your existing documentation.
- Implementation: drafting or updating of all or part of your documentation (Master File and / or local documentation).
- Support: implementation of document management tools (country sheets, questionnaires, documentation frame, functional analysis matrix) and customized training.