The CRA is tracking alcohol sales to nail tax dodging bars and restaurants
Establishments that serve alcohol are receiving additional attention from the Canadian Revenue Agency. The tax agency feels the rate of tax fraud in restaurants and bars that serve drinks is on the rise. As many such businesses operate heavily with cash, it can be tempting for owners and managers to assume these non-electronic payment methods can go unnoticed. The CRA is tracking how much alcohol is bought and then reviewing business records to catch any issues. Currently, the CRA is focusing on Ontario as well as some other non-disclosed provinces. However, they may expand their efforts to every province and territory.
“The cash-based nature of the food and beverage sector, in addition to the growing use of electronic sales suppression software within this industry, make it an ongoing area of tax non-compliance concern.”
Read more: https://www.cbc.ca/news/business/cra-tracks-alcohol-purchases-by-bars-restaurants-1.4847926?cmp=rss