Selected listed financial institutions (SLFIs) may want to consider system and process improvements before preparing their 2016 GST/HST and QST* returns.
With 2015 returns having been filed, SLFIs may find that now is a good opportunity to review and implement improvements to help increase efficiency and reduce risks and tax costs for 2016 and future years. Because this review will require input from other departments and time to implement changes, it would need to be considered in advance of the filing of the next returns.
Read a September 2016 report [PDF 66 KB] prepared by the KPMG member firm in Canada: SLFIs — Identify Efficiencies and HST Savings Now
*GST / HST and QST = goods and services tax / harmonized sales tax and Quebec sales tax
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