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Canada Import Tax from 3rd Party
Hi,
Looking at how best to record GST/HST we pay for imported goods into Canada. We purchase from a US vendor that does not charge us any taxes. When the goods arrive the broker or transport company add onto their invoice the sales tax value based on the converted to Canadian dollar value of the goods. We pay this tax to the broker / clearance company this amount and claim the tax value to the government.
How best to record this tax amount that is payable ? We cannot add it to the vendor invoice as not owed to them, so all we have found to do ass it as a line expense on a vendor bill for the broker. But this amount will not be carried into the standard tax reports as it is exempt from any tax, it is already a tax.
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