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GST in Canada: How It Works and What Businesses Should Know
Understanding the Goods and Services Tax (GST) in Canada is crucial for any business operating in this environment. This article will provide a comprehensive overview of GST, who needs to register, its implications for goods and services, compliance steps, and everything else you should know to navigate this indirect tax smoothly. What is GST in Canada? The Goods and Services Tax (GST) is a value-added tax that applies to most goods and services sold in Canada. This tax was i
2 hours ago9 min read
Fiscal Representative vs Tax Agent: What’s the Difference in the EU?
Understanding the distinction between a fiscal representative and a tax agent is crucial for businesses operating within the EU, especially for VAT compliance. This guide dives deep into the roles of these two entities, helping you grasp when each is necessary in the context of EU VAT obligations. Introduction In the world of EU taxation, terms like "fiscal representative" and "tax agent" pop up often, but they have distinct meanings that can shape your business strategy. A f
Jan 277 min read
Navigating GST and Importer of Record in Canada
Understand the essential role of GST numbers and importers of record for legally selling in Canada. Expert help is available from ASC Consulting.
Jan 209 min read
FATF Black and Grey Lists: What They Mean for Global Business
Understanding the FATF black and grey lists is essential for any business operating internationally. These lists identify countries with varying degrees of risk concerning financial crime, particularly related to anti-money laundering (AML) and counter-terrorist financing (CFT) regimes. Here’s what you need to know. What are FATF Black and Grey Lists? The FATF black and grey lists are classifications used by the Financial Action Task Force (FATF) to help manage risks relate
Jan 135 min read
Help Your Cashflow by Waiving VAT on Importation
Improve cash flow by avoiding upfront import VAT using Postponed Import VAT Accounting, with expert support from ASC Consulting.
Jan 64 min read
Operate abroad: company setup, vat registration, or client import
Navigating international markets can be a tricky endeavor. Whether you're a small business taking your first steps abroad or a large corporation looking to expand your footprint, understanding the various operate abroad VAT options is critical. This article will break down your choices for operating in a foreign country where your company doesn’t have a physical presence, including setting up a local entity, registering for VAT through a fiscal representative, or letting the
Jan 610 min read
How to source products in asia: practical guide for businesses
Sourcing products in Asia has become a go-to strategy for businesses wanting to tap into the region's vast manufacturing capabilities and competitive pricing. However, navigating this complex landscape can be a daunting task. This guide aims to simplify the process, providing actionable steps to help you successfully source products in Asia. Understanding the Basics: What is Sourcing Products in Asia? Sourcing products in Asia essentially means finding and purchasing goods fr
Dec 30, 20258 min read
Why you need a shareholders’ agreement to protect your business
The Essential Guide to Shareholders’ Agreements: Why Every Business Needs One Introduction A shareholders’ agreement is a vital contract among the owners of a company that outlines how it should operate. Think of it as a roadmap for your business relationships, especially when multiple founders or investors are involved. This document is crucial for ensuring everyone is on the same page. Without it, you’re playing a risky game that could lead to confusion, conflict, or worse.
Dec 23, 202510 min read
When must you register your company for vat in europe?
Understanding VAT registration in Europe is crucial for businesses that wish to operate smoothly within the EU. This guide clarifies when a company, whether based in the EU or outside, needs to register for VAT. Navigating the intricacies of European VAT rules can seem daunting, but with practical insights, you can ensure compliance and avoid any nasty penalties. Introduction to VAT Registration in Europe Value Added Tax (VAT) is essentially a consumption tax levied on the va
Dec 16, 20258 min read
Legal responsibilities of a fiscal representative in the EU
Understanding the legal responsibilities of a fiscal representative is crucial, especially for non-EU companies navigating the complexities of VAT compliance in the EU. A fiscal representative is not just an intermediary; they take on significant obligations that can have real consequences for both themselves and the companies they represent. Introduction Navigating the maze of VAT compliance in the EU can feel like a daunting task for non-EU companies. Enter the fiscal repre
Dec 9, 202510 min read
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