In addition to the tax credit administration services provided in relation to claiming Canadian tax credits, Global Incentives will:
1. Incorporate a Canadian production entity and organize the company.
2. Prepare a production service agreement between the Canadian production entity and the copyright holder.
3. Open CAD and USD bank accounts in Canada for the Canadian production entity.
4. File applications to open the Producer’s tax accounts, including the corporate tax account and GST, PST, QST and/or HST accounts.
5. Monitor production costs and obtain cost reports and general ledgers to track the tax filing obligations throughout production.
6. Prepare and file monthly, quarterly or annual GST, PST, QST and/or HST reports and claims.
7. Respond to all government inquiries and provide backup regarding GST, PST, QST and/or HST claims throughout the review process.
8. Prepare (through a 3rd party CPA) year end tax returns for the production company, including one tax return to claim the credit and a second tax return to close the company.
9. Arrange for any CRA or Revenu Quebec tax credit audits to be conducted, and respond to any inquiries arising from such audits.
10. File annual corporate returns for the corporation to ensure that the Canadian production entity is in good standing.
11. Prepare and file final reports to close all of the Producer’s tax accounts.
Global Incentives will provide these services as a complete package for productions doing any production work in Canada, including principal photography or portions of it, post production work, or visual effects.