News and Insights

BC Issues Bulletin CTB 003, “Audits” 

Tax Development Jun 02, 2014

British Columbia (“BC”) has recently issued a new bulletin, CTB 003, “Audits discussing what to expect during a consumer tax audit. 

Given that BC has now had their provincial sales tax in place for over a year, taxpayers should be aware that audits may be scheduled soon.  BC may select any organization or individual for an audit, including those located outside the province, based on a special audit project, legislated program, risk-based selection or a referral from another audit. 

Taxpayers should be mindful of the records and documentation requirements of an audit, the time limits (generally four years), as well as their rights and responsibilities when under audit.  This bulletin explains what should happen during and after an audit, and also includes a handy flowchart of the typical audit process.