Is a tax recovery review right for your business? Learn about this new service from MRSB

We seem to be on a roll here in terms of introducing new services for our entrepreneurial clients. This definitely isn't a bad thing! At the end of January we introduced you to our Business Value Enhancement service from the MRSB Valuation & Litigation Support team. This month we'd like to talk about a new service from MRSB Tax Services.

Because we're all about letting the experts speak for themselves. Martin Goguen, the newest addition to our tax team, will take it from here and explain what this service is all about and the benefits it might offer your business.

Let me introduce myself - my name is Martin Goguen and I am new to Prince Edward Island and to the MRSB Tax Services team. I have been working in the field of indirect tax for the past decade, primarily as an independent consultant but also for national accounting firms all over Atlantic Canada, Ontario and Quebec. My primary focus has been Tax Recovery, which entails improving clients' ability to recover taxes and minimize tax liabilities. I have successfully recovered millions of dollars in overpaid taxes on behalf of organizations of various size, scope and industry. I'm happy to have joined with MRSB and to be part of their multi-disciplinary team and progressive approach to service delivery. I am confident that we will achieve our goal of providing extraordinary, value-added services to our clients regardless of size and industry.

In my experience, approximately 95% of the businesses I've worked with have walked away with extra money in their pockets.

So, how might the specialized services I provide benefit your business? In a nutshell, I conduct a comprehensive review of your indirect tax compliance processes (GST/HST, PST, Excise Tax, Fuel Tax, duties, etc.) to find out whether you are eligible to 'recover' taxes in any of these areas. Although our review is focused on past transactions, we also recommend ways that you can enhance your processes so you won't overpay in the future.

Your first question might be, "How likely is it that I've got recoverable taxes?" In my experience, approximately 95% of the businesses I've worked with have walked away with extra money in their pockets. 100% of the businesses I've worked with have benefited from the review process either by virtue of found money and annual savings, or by improving their tax compliance system to better manage their taxes.

You might then say, "But what if I'm one of the businesses that doesn't have any recovered taxes coming to me? Is it in my best interest to pay for a service that may or may not yeild results?" A valid question, and the answer is simple: You won't pay us anything until savings are realized by you. We are confident in our ability to benefit your business and want you to get the best end of the deal at all times.

The truth is, overpaid or unrecovered taxes may be inadvertently increasing your organization's costs, which can directly affect your bottom line. I believe that complying with Canadian tax regulations should be part of a process that enables fast refunds while effectively managing compliance costs and reporting requirements. We are fully prepared to tailor your review to your industry and organizational needs, following a five step process to achieve results.

If you would like more information on our Tax Recovery service or have other tax-related questions, visit our Tax team page and contact one of our advisors.