Don’t forget about GST on foreign trailers: OTA
TORONTO, (Sept. 22, 2003) — The Ontario Trucking Association is reminding carriers that “foreign owned” trailers that are being leased or rented by a Canadian domiciled carrier for both domestic operations in Canada and international movements must be declared as being imported and GST must be paid.
The OTA says this applies even if the rental or lease payments are made to a Canadian based company. The determining factor is if the trailers are “owned or leased by a person whose domicile is a foreign country.”
The Canada Customs and Revenue Agency (CCRA) will assess a penalty equal to the GST payable as well as requiring the GST to be paid, the OTA warns.
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