Serbinski Accounting Firms

That definitely sounds off — duties and taxes shouldn’t add up to 70% on a CAD $296 order if CBSA’s estimate was around 18%. It could be that DHL added extra fees (brokerage, handling, etc.), which sometimes inflate the total. I’d suggest contacting DHL first to get a full breakdown of the charges ...

As a U.S. citizen, you must report the $1M gain in the U.S., but the Canadian tax (~27%) can usually be claimed as a foreign tax credit, often reducing or eliminating U.S. tax. Still, you must file and ensure treaty and reporting compliance. I suggest you check with the help of the VAT Calculator ...

I supply products to both the US and international markets and will be registering for VAT. HMRC has confirmed that I should only charge output VAT on my US-sourced income. When completing my VAT return, should I declare all input VAT I incur, or only a proportion based on my sales split? Currently ...