Energy | Tax services

At Grant Thornton, we understand that most business decisions have tax implications—the energy industry is no exception.

Tax laws are complex and often changing and staying on top of things can be a time consuming process. But don’t worry, we’re here to help. As experienced professionals in the energy sector, we consistently monitor, assess and keep informed of the tax laws that may affect your operations, while working with you to help you utilize relevant tax planning opportunities to minimize your tax positions.

Our approach is integrated, forward thinking and tailored to you, providing advice and strategies to help you succeed. We take the time to get to know you and understand what your business objectives are, as we want to deliver the services and advice you need to help you achieve your business goals.

Combining leading-edge knowledge with in-depth industry experience, we help to ensure that our tax services will benefit your company today and over the longer term. Our Canadian tax team offers a full range of tax services―from domestic tax to international tax, US tax, transfer pricing or SR&ED. With both international and national publicly listed and privately held energy companies as clients, and as a member firm of Grant Thornton International Ltd, we are able to leverage our resources on a global basis.

We can help with a variety of tax issues, including

Domestic corporate tax
We have a team of tax specialists who understand the taxation of energy companies. These specialists provide a broad range of services to our clients, fulfilling the entire tax function role specifically for energy companies—including everything from tax provision preparation and compliance services through to general tax advisory and planning.

International tax
The structuring of Canadian outbound energy investments can be complex and daunting. Failure to optimally structure such investments could result in double or excessive tax, with direct adverse impact on project returns. At Grant Thornton, we have the knowledge to help ensure your activities are optimally structured, helping you avoid the cascading tax that can arise when an entity engages in international activity.

Transfer pricing

Sales and indirect tax
Sales and indirect taxes include GST/HST, provincial sales taxes, VAT, excise, motor fuels, and carbon taxes, US sales and use taxes, among others. They can be a significant burden for energy companies, both as a fixed cost and as a pure compliance cost. We help our clients in the energy sector assess their reporting and collection responsibilities, suggesting how to structure their activities to assist in minimizing these taxes. We also help them not only with their filing requirements for Canadian taxes, but also with their global indirect taxes through our international network of indirect tax specialists. Where clients overpay these taxes or other payables errors, we have a team that is uniquely suited to isolate these amounts within your enterprise data and help you claim refunds, putting cash tax dollars direct to the bottom line. •

Scientific Research & Experimental Development (SR&ED) tax