E-Invoicing
E-invoicing is voluntary
Digital Reporting
Yes
E-invoicing is not mandatory in Canada. From the end of 2018, all federal suppliers (Business to Government B2G) should be able to receive e-invoices. This was intended to promote the use of electronic invoices in the country.
The E-invoicing and e-procurement platform PEPPOL was introduced in Canada in 2018. It allows businesses to easily send and receive invoices electronically and track orders and payments. The Pan-European Public Procurement Online (PEPPOL) network is a European initiative that enables businesses to send and receive e-invoices. Businesses are already using PEPPOL in Canada.
Canada introduced a sales data reporting obligation for restaurant and remunerated passenger transport services. It is a fiscalization regime that requires businesses in scope to report their sales data through a certified system to the tax authority within 48 hours.
Canadian Revenue Agency (Quebec) requires all restaurants and remunerated passenger transport service providers (taxi operators) to report sales data to the tax authority. This is a sector specific obligation that only impacts above mentioned taxpayers.
Non-compliance with the fiscalization rules may be fined from CAD 300 - 100.00. Additionally, administrative charges of CAD 100- 300 may be charged.
No.
One way to comply with Digital Reporting Requirements in Canada is to use a provider like Fonoa.
With Fonoa you can:
Fonoa does not provide professional tax opinions or tax management advice specific to the facts and circumstances of your business and that your use of the Specification, Site, and In addition, due to rapidly changing tax rates and regulations that require interpretation by your qualified tax professionals, you bear full responsibility to determine the applicability of the output generated by the Specification and Services and to confirm its accuracy. No professional tax opinion and advice. Fonoa does not provide professional tax opinions or tax management advice specific to the facts and circumstances of your business and that your use of the Specification, Site, and In addition, due to rapidly changing tax rates and regulations that require interpretation by your qualified tax professionals, you bear full responsibility to determine the applicability of the output generated by the Specification and Services and to confirm its accuracy.