Debt owed
to the government
When a company goes through a period of financial stress or suffers an unforeseen setback, it can be difficult to meet its tax obligations. This can have far-reaching consequences, as government authorities have fast and binding means of recovering amounts owed.
These remedies include :
- seizure of bank accounts without prior notice;
- customer account retention;
- confiscation of equipment or other company assets.
Without prompt action, these measures can have irreversible effects on the company’s operations. What’s more, directors may be held personally liable for tax debts incurred during their term of office.
It is therefore essential to act quickly and implement a suitable strategy. Depending on the situation, different solutions can be deployed with the help of a licensed insolvency trustee.
Do you recognize
yourself in this
situation?
Answer the questions to get a clearer picture.
Are you behind on your GST and QST remittances?
Are you receiving notices or reminders from Revenu Québec regarding unpaid sales taxes?
Are you temporarily using the GST/QST collected to meet other cash flow needs?
Are you having trouble making payroll deductions?
Have you ever been charged interest or penalties for late tax remittances?
Possible solutions
Find the best solution
Whatever your company’s situation, there are solutions to lighten your load and restore a more balanced management style. Our teams can support you with services tailored to your needs and objectives. Find out more about our solutions.
Inspiring testimonial
The Dispute Between Mélanie and Karine
“Thank you to the BRESSE team for taking the time to explain the options available to me. The solution suggested by my professional enabled me to avoid bankruptcy.” Mélanie and Karine
Other situations
Lack of liquidity
Liquidity shortages often occur during significant changes such as rapid growth, a market shift, or the loss of a major client. Financial obligations accumulate while available resources decrease.
Legal proceedings
When a company is subject to a seizure or judgment, its accounts can be frozen, its assets seized, and its operations halted, rapidly worsening an already precarious financial situation.
Decline in sales
A significant drop in revenue compromises a company’s stability. Whether it results from the loss of clients, an economic slowdown, or increased competition, it requires a swift response to minimize the impact.