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With millions of acres of farmland under water and many communities dealing with severe flooding, many entrepreneurs will be facing very tough times over the next few months.
Businesses directly impacted by flooding, that are unable to file their provincial sales tax returns or any other tax returns for taxes administered by the Sask Finance Ministry by the required due date, can request a waiver of the interest and penalty resulting from the late return. For more information please visit: http://bit.ly/U9EzO4
Affected businesses must submit a written request for waiver of penalties and interest to the Sask Finance Ministry.
Requests should include the business location and outline the circumstances of how the flooding prevented the tax return(s) from being filed on time. Requests should be marked as flood-related and sent to the following address:
Ministry of Finance Revenue Division
Box 200 Regina SK S4P 2Z6
E-mail: [email protected]
Tax information bulletins and forms are available online at www.finance.gov.sk.ca/taxes. The easiest and quickest way to file most provincial tax returns is to use the Saskatchewan Electronic Tax Service (SETS) located at www.finance.gov.sk.ca/taxes/efile/.
The Canada Revenue Agency (CRA) also provides flexibility for businesses affected by flooding, including small businesses and self-employed persons. These taxpayers will be eligible to seek relief from penalties and interest that arise from missing tax reporting and payment deadlines.