Import & Export Tax Accountant

Gain control over customs duties, GST/HST, currency risk & financial compliance with accounting built for international trade.

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AFFORDABLE Import Export Accountant

Importing and exporting involve far more complexity than domestic operations. Fluctuating exchange rates, customs duties, GST/HST rules, free trade agreements, and cross-border documentation can create financial risks. We provide specialized bookkeeping, accounting, and tax support for importers and exporters, helping you stay compliant, minimize costs, and improve profitability.

We ensure accurate landed-cost tracking, duty and tax planning, proper GST/HST treatment, foreign currency accounting, and reliable financial reporting so you can focus on growing your international trade.

Official Partner

Accounting That Understands Your Import Export Business

Cross-border tax compliance

Ensure GST/HST, customs duties, and corporate taxes are correctly calculated and filed.

Currency and exchange management

Monitor and manage foreign exchange impacts on your international transactions.

Customs and regulatory reporting

Stay compliant with import/export documentation and government regulations.

Accurate financial reporting for trade

Track revenue, costs, and profits from international sales with clear, audit-ready reports.

Stay Compliant While You Grow

GST/HST, Payroll, and Record‑Keeping

Track GST/HST on cross-border sales, payroll obligations, and maintain proper documentation. Ensure compliance with CRA and customs requirements to avoid penalties.

Corporate Tax and Owner Compensation

Handle T2 filings, owner salary/dividends, and year-end tax planning. Strategically manage taxes to maximize savings and maintain cash flow.

Audit‑Ready Books for Lenders and Trade Partners

Maintain clean, organized financials for banks, investors, and trade partners. Present accurate records to support financing, credit, and import/export growth opportunities.

Why Work With Gondaliya CPA in Import / Export

Deep Trade & Tax Knowledge

We stay ahead of customs regulations, GST/HST changes, and CARM compliance so you don’t get surprises.

Cost Savings

By optimizing duty classifications, using trade agreements, and properly claiming tax credits, you see more profit per shipment.

Customized & Scalable Support

Whether you are a small importer or large trader, we adapt to your volume & complexity.

Transparent Communication & Technology Use

Cloud accounting, digital document storage, dashboards, customs cost visibility—all parts of our service.

Fully Licensed CPA Ontario

700+ ★★★★★ Google Reviews

30-Day Money-Back Guarantee

60-Day Fees-Matching Policy

ACTIVELY ACCEPTING Corporate Clients

Will cover personal tax filing for Directors & Families

Convenient Availability

Weekend and evening support until 9 PM

Always Within Reach

Just a call away when you need us

Import & Export Accounting Services

Corporate Tax Filing for Import Export Businesses

Professional Corporate tax preparation and return filing, ensuring accuracy and CRA compliance.

Accounting & Bookkeeping for Import Export Businesses

Reliable bookkeeping and accounting with financial statements, records, and reporting.

Corporate Tax Planning for Import Export Businesses

Smart Corporate tax planning to optimize savings, reduce liabilities, and maintain compliance.

Catch-Up Corporate Tax Filing for Import Export Businesses

File overdue corporate tax returns, clean up missing records, and get your business back into CRA compliance with accurate, stress-free catch-up filing support.

GST/HST Filing for Import Export Businesses

Affordable GST/HST filing to help your business stay compliant, maximize input tax credits, and avoid CRA penalties.

Corporate Tax Cleanup for Import Export Businesses

Resolve past corporate tax issues and bring your filings fully compliant and up to date.

CRA Audit Resolution Services for Import Export Businesses

Expert support to handle Canada Revenue Agency audits, disputes, and negotiations with confidence.

Trust and Estate Tax Returns (T3) for Import Export Businesses

Expert preparation of T3 returns to ensure compliance and minimize taxes for trusts and estates.

Incorporation Services for Import Export Businesses

Incorporation services for smooth business formation, entity setup, and start-up support.

Import & Export Accounting Services

Real, practitioner-level CPA expertise for importers, exporters, customs brokers, and cross-border trade businesses across Ontario — built for how international trade companies actually operate.

Corporate Tax Filing for Import/Export Businesses

We file your import/export corporation T2 return with customs duties paid on imported goods capitalized into inventory cost on Schedule 125 — not expensed separately — so your COGS and landed cost calculations are accurate and CRA does not reclassify your import/export corporate tax filing.
Foreign exchange gains and losses on cross-border trade receivables and payables must be reported on Schedule 1 of your import/export T2 return using CRA's year-end exchange rate — we reconcile every foreign currency transaction so your import/export corporate tax filing reflects the correct Canadian dollar amounts.
We classify warehouse racking, conveyor systems, and loading dock equipment under CCA Class 8 on Schedule 8, and computer hardware for customs and ERP systems under Class 50, on your import/export corporation T2 return to maximize depreciation deductions each fiscal year.
We reconcile customs broker invoices against CBSA statements of account before filing your import/export corporate tax return, ensuring duty amounts capitalized into inventory match the actual duties assessed and no deductible brokerage fees are missed.
For import/export corporations earning revenue in USD or other foreign currencies, we calculate the foreign exchange component on each invoice and report cumulative gains or losses under ITA section 39 on your import/export corporate tax filing to prevent CRA reassessments on unreported currency income.

Accounting & Bookkeeping for Import/Export Businesses

We set up your import/export bookkeeping chart of accounts to track customs duties, brokerage fees, freight costs, and insurance separately so your landed cost per shipment is visible and COGS reconciles accurately against inventory at every month-end close.
We reconcile foreign currency bank accounts and wire transfers against trade receivables and payables monthly in your import/export accounting, converting each transaction at the Bank of Canada daily rate so your books reflect accurate Canadian dollar values.
For importers using bonded warehouses or duty deferral programs, we track duty-unpaid inventory as a separate category in your import/export bookkeeping so duties are expensed only when goods are released for sale — not when they arrive in Canada.
We reconcile customs broker statements against CBSA CARM account balances monthly in your import/export bookkeeping, catching duplicate duty charges, missed refunds, and incorrect tariff classification adjustments before they carry into year-end financials.
We configure your import/export accounting in Xero or QBO with multi-currency enabled, tracking USD, EUR, and other trade currency receivables and payables at spot rates so unrealized exchange gains and losses are visible on your balance sheet without manual spreadsheet tracking.

Corporate Tax Planning for Import/Export Businesses

We structure non-voting shares in your import/export corporation for family members to multiply access to the $1.25M Lifetime Capital Gains Exemption on a future business sale as part of your import/export tax planning strategy.
We model salary versus dividend splits for import/export business owners based on your corporation's active income, targeting the $500,000 Small Business Deduction threshold while maximizing personal RRSP room through import/export corporate tax planning.
Our import/export tax planning monitors annual passive investment income to keep your corporation below the $50,000 threshold that claws back the Small Business Deduction, preserving the 12.2% combined rate on active trade profits.
We plan the timing of large container shipments and duty payments around your import/export corporation's fiscal year-end so customs duties are capitalized into inventory and flow through COGS in the period that produces the lowest corporate tax as part of import/export tax planning.
For import/export businesses with a separate holding company, we plan intercorporate management fee arrangements at fair market value so fees are deductible on the operating import/export corporation's T2 return without CRA transfer pricing challenges.

Catch-Up Corporate Tax Filing for Import/Export Businesses

If your import/export corporation has two or more years of unfiled T2 returns, CRA can revoke your business number and CBSA may restrict your import privileges — we file all outstanding import/export catch-up corporate tax returns and negotiate penalty relief.
We reconstruct missing import/export revenue from foreign currency bank deposits, customs broker invoices, and freight forwarder statements when your catch-up corporate tax filing requires financials for years where bookkeeping was never completed.
Late import/export corporate tax filing penalties compound at 5% plus 1% per month on unpaid tax — our catch-up filing service prioritizes the oldest unfiled year first to stop this accumulation and restore your import/export corporation to CRA compliance.
For importers that changed customs brokers mid-year without reconciling duty payments, we rebuild landed cost calculations from CBSA statements of account and supplier commercial invoices to prepare accurate catch-up T2 returns for every unfiled import/export corporate tax year.
We review unfiled periods for missed CCA deductions on warehouse equipment, trade-specific software, and leasehold improvements, ensuring your import/export catch-up T2 returns claim every legitimate deduction rather than just reporting revenue at maximum tax.

GST/HST Filing for Import/Export Businesses

Goods exported from Canada are zero-rated for HST purposes, but CRA requires proof of export — bills of lading, commercial invoices, and customs declarations — filed with your import/export GST/HST return to support zero-rated treatment and avoid reassessments.
Division III HST is assessed on goods imported into Canada at the border by CBSA — we ensure the HST paid on imported inventory is claimed as an ITC on your import/export GST/HST return so you recover the 13% paid on every commercial shipment entering Ontario.
We claim ITCs on customs brokerage fees, freight forwarder charges, warehouse lease costs, and trade compliance software on your import/export GST/HST return — many importers miss these credits because the invoices are processed through operations, not accounting.
For import/export businesses registered under CARM, we reconcile your CBSA assessment statements against GST/HST paid at the border monthly so your import/export GST/HST return captures every eligible ITC before the filing deadline.
Non-resident suppliers selling goods to Canadian buyers may be required to register for GST/HST under the new marketplace rules — we determine whether your import/export business must self-assess HST on non-resident purchases and report it correctly on your return.

Corporate Tax Cleanup for Import/Export Businesses

We correct import inventory valuation errors where previous accountants excluded customs duties and freight costs from landed cost on Schedule 125, recovering understated COGS and reducing overpaid tax on your import/export corporate tax cleanup.
Our import/export tax cleanup reconciles historical foreign exchange gains and losses against T2 reported amounts for each prior year, identifying unreported currency income that could trigger CRA matching reviews and correcting them through amended returns.
For import/export corporations where customs duties were expensed as operating costs instead of capitalized into inventory, we reclassify these amounts and amend COGS schedules as part of your import/export corporate tax cleanup to correct prior year income.
We rebuild the shareholder loan account on Schedule 50 for import/export corporations where owner draws, personal travel charged as business trips, and family expenses were never separated — preventing ITA subsection 15(2) income inclusions during import/export tax cleanup.
Our import/export corporate tax cleanup fixes retained earnings carryforward errors caused by switching accountants or multi-currency bookkeeping discrepancies, ensuring your Schedule 100 balance sheet matches the actual equity position for lenders and trade partners.

CRA Audit Resolution for Import/Export Businesses

CRA frequently audits import/export corporations on transfer pricing between related cross-border entities — we defend your intercompany pricing with contemporaneous documentation showing arm's length comparables as part of your import/export CRA audit resolution.
When CRA questions foreign exchange reporting on your import/export T2 return, we reconcile every cross-border transaction with Bank of Canada rates and prepare a documented response as part of your import/export CRA audit resolution.
We respond to CRA requests for import/export payroll records by presenting PD7A reconciliations, T4 summaries, and warehouse worker wage documentation in an organized audit package that demonstrates full import/export payroll compliance.
For import/export corporations flagged on zero-rated export sales, we prepare CRA audit resolution documentation with bills of lading, customs export declarations, and commercial invoices proving goods left Canada and the zero-rated HST treatment was correctly applied.
We submit RC4288 Taxpayer Relief requests as part of import/export CRA audit resolution when penalties resulted from a previous accountant's errors on your corporation's filings, documenting the circumstances to maximize penalty cancellation.

Trust & Estate Tax Returns (T3) for Import/Export Businesses

A family trust holding non-voting shares of your import/export corporation distributes dividends to adult beneficiaries at their lower marginal rates, and we prepare the T3 trust return with proper trade business income allocations and T3 slips each year.
When an import/export business owner passes away, we coordinate the final T1 return with the T3 estate return to ensure accrued trade receivables, in-transit inventory, and outstanding foreign currency invoices are reported in the correct filing period, preventing double taxation on import/export estate income.
We prepare T3 returns for inter vivos trusts established during import/export business succession planning, reporting investment income earned on funds transferred from the trade corporation while maintaining CRA compliance on all trust distributions to beneficiaries.
For estates holding shares in an import/export corporation, we calculate the deemed disposition at fair market value — including goodwill, trade contracts, and supplier relationships — on death and apply the spousal rollover under ITA subsection 70(6) where eligible to defer capital gains.
We file T3 slips for every beneficiary receiving distributions from an import/export estate trust, meeting the CRA deadline to avoid the $25 per day per slip penalty and ensuring each family member reports their allocated income correctly.

Incorporation Services for Import/Export Businesses

We incorporate your import/export business as an Ontario or federal corporation with a NUANS name search and articles of incorporation, and register your CRA Business Number, HST account, payroll account, and import/export account with CBSA before your first shipment clears customs.
We design a multi-class share structure at import/export incorporation — common voting shares for the owner, non-voting shares for family members — to support future income splitting, estate planning, and business sale without costly articles of amendment later.
As part of import/export incorporation, we register your corporation under CBSA's CARM portal so your business can post security, manage duty payments, and access trade data electronically from the first import transaction.
We prepare the opening balance sheet and minute book for your import/export corporation, including initial director resolutions, share certificates, and shareholder register, so your company passes lender, trade partner, and customs broker due diligence immediately after incorporation.
For entrepreneurs purchasing an existing import/export operation, we coordinate the asset purchase allocation at incorporation — splitting the price between inventory, warehouse equipment, trade contracts, goodwill, and customer lists — to maximize CCA deductions from the first fiscal year of your import/export corporation.

Free Resource: 50 Deductible Expenses for Import Export Businesses

Comprehensive checklist of tax-deductible costs unique to Import Export businesses. PDF delivered instantly.

Case Studies

Toronto Small Importer

Problem: Mismanaged customs duties and unclaimed eligible tax credits, leading to higher costs.

Solution: Implemented proper bookkeeping, tracked import/export duties, and claimed all eligible tax credits.

Results:
✅ $25K+ in tax credits recovered
✅ Accurate, CRA-compliant records
✅ Reduced customs-related costs

Mississauga Export Business

Problem: Confusing GST/HST filings for cross-border sales, risking penalties.

Solution: Streamlined GST/HST reporting, automated filings, and ensured compliance with Canadian and international regulations.

Results:
✅ Penalty-free GST/HST compliance
✅ Clear tax reporting for management
✅ Freed business owner to focus on growth

Ottawa Import/Export Company

Problem: Difficulty reconciling multi-currency invoices and preparing for T2 corporate tax.

Solution: Standardized accounting for multi-currency transactions, reconciled accounts, and prepared audit-ready T2 filings.

Results:
✅ Accurate multi-currency accounting
✅ On-time, CRA-compliant T2 submission
✅ Reduced stress and improved financial oversight

PROCESS

Our Streamlined Process

Our clear, efficient process ensures that every step is transparent, fostering trust and strong client relationships.

Here’s a simplified process approach:

Step 1

Initial Consultation

We assess your import/export business needs and financial setup.

Step 2

Financial Setup

We organize your books, track shipments, duties, and expenses.

Step 3

Tax & Compliance Management

We handle corporate taxes, GST/HST, customs duties, and payroll obligations.

Step 4

Ongoing Support & Reporting

We provide regular reports and strategic advice to keep your business compliant and tax-efficient.

Stay Compliant and Optimize Your Import/Export Taxes

Transparent Pricing for Import Export Businesses

Affordable Packages for Import Export Business Accounting

We believe in clear, upfront pricing so you know exactly what to expect.

- Tax Preparation (Corporation): From $400
- Tax Return Filing (Corporation): From $400
- Tax Compliance Audit – FREE CRA audit support for our clients
- Tax Strategy: FREE for our clients
- Accounting Base Plan – From $100 / month
- Bookkeeping Management (Free for our Accounting clients)
- Financial Reporting (Free for our Accounting clients)
- Business Formation: Flat $35
- Incorporation Process: Flat $35
- Entity Setup Assistance: Flat $35
- Full-Service Payroll: From $125 per month

Serving businesses in Toronto, Mississauga, Brampton, Hamilton, Ottawa, and across Ontario.

Meet the Lead Import/Export Accountants

Sharad Gondaliya, CPA

Bio Principal 647-212-9559 sharad@gondaliyacpa.ca

Vandana Goel, CPA

Bio Accounting Specialist 647-250-0242 vandana@gondaliyacpa.ca

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Import and export accounting services simplify cross-border financial management for your business. From taxes and customs duties to regulatory compliance and accurate bookkeeping, our expert corporate accountants in Toronto, Brampton, Mississauga, and across Ontario keep your import/export operations organized, compliant, and tax-efficient.

What does an import and export accountant do?

An import and export accountant specializes in managing customs duties, GST/HST, tariffs, foreign exchange, and cross-border compliance. We ensure your international trade transactions are recorded accurately, tax credits are claimed, and duties are minimized.

Why do import/export businesses need specialized accounting services?

Do you handle bookkeeping for import/export businesses?

Yes. We track revenue, expenses, customs duties, shipping costs, and generate financial reports for decision-making.
Our corporate accountant ensures your books are accurate and up-to-date, whether your business is in Toronto, Ontario, or anywhere in Canada.

How can an import export accountant help reduce customs duties and tariffs?

By correctly classifying your goods under the right HS codes and leveraging trade agreements like USMCA/CUSMA, an import/export accountant helps you reduce or eliminate unnecessary duties and tariffs.

Can you assist with tax planning and filing for import/export companies?

Absolutely. We prepare and file taxes, claim eligible deductions, and provide strategies to minimize tax liabilities while staying CRA-compliant.
Our corporate accountant helps import/export businesses save money and stay compliant.

Do I have to charge GST/HST on goods I export?

No, exports are often zero-rated, meaning you don’t charge GST/HST on exports, but you can still claim ITCs on inputs associated with those exports if properly documented.

Do I need a GST/HST registration for importing goods into Canada?

Yes. Most importers must register for GST/HST and properly account for tax on imported goods. Our import and export accounting services handle GST/HST setup, filing, and input tax credit claims to keep you compliant and maximize refunds.

Can you help new import/export businesses get started?

Yes. We provide accounting setup, bookkeeping, tax planning, and guidance for new import/export ventures.
Our corporate accountant helps Toronto and Ontario businesses start with accurate, compliant financial systems.

How do I get started with your import/export accounting services?

Simply contact our team for a free consultation. We’ll review your trade activities, customs paperwork, and tax setup, then create a tailored plan to optimize your international accounting.