While organizations may vary, there are a number of different areas where companies may look to recover lost costs including lease audits and sales tax reviews.

Lease Audit Review

ITC Recovery’s lease audit and occupancy cost review is a systematic process comprised of the examination of a business’s commercial leases and all documents associated with lease­hold expenses, billing methodologies and language in commercial leases. ITC will verify and determine that charges billed by landlords are accurate and in compliance with lease terms and return lost profit by identifying and recovering over­-pay­ments made. Recovery areas include:

  • Review of Annual Oper­at­ing Expense Rec­on­cil­i­a­tion Statements

  • Accu­racy of Gross-up Adjustments

  • Com­mon Area Main­te­nance  Costs

  • Expense Stop or Base Year Calculations

  • Undue Man­age­ment and Admin­is­tra­tion Fees

  •  Imper­mis­si­ble Lease Expenses

  • Land­lord Method­olo­gies for Cost Allo­ca­tion to Ten­nant Groups

  • Cap­i­tal Expenditures

  • Con­struc­tion Costs

  • Real Estate Tax & Insurance

  • Spe­cific Ten­ant Assess­ments and Chargebacks

  • All Other Occu­pancy Related Costs

Benefits of Our Comprehensive Lease Audit

Future Cost Avoidance

Offset Lease Exit Costs

Leverage for Lease Negotiation

Recovery of Overpayments

Identify Punitive Language

Sales Tax Review

Canadian sales tax is complex and companies are presented with the challenge of ensuring effective sales tax management and compliance. Finance professionals are faced with the task of understanding the federal and provincial variations and keeping track of ongoing legislative changes. This can be an arduous task that requires technical expertise and time.

We provide an independent review of your Canadian sales taxes to identify and recover overpayments.

As part of our customized suite of services we offer a solution designed to assist finance professionals with the support and expertise required to secure eligible sales tax refunds, manage sales tax risk and improve overall sales tax compliance.

Customs & Duty Recovery

Tariff Classification Refunds

Reclassify items under an alternative tariff category to reduce duty costs. We can then apply for and receive refunds for the previous 4 years of duties paid.

Duty Drawback

Goods imported and exported in the same condition are entitled to full recovery of the duties paid at the time of import. Goods imported, used in manufacturing, and exported are also entitled to full recovery of the duty paid.

NAFTA Refunds

We continue to discover NAFTA refund opportunities from this complex agreement. Clients typically have a recovery period of 1 year from the time of import.

Customs Broker

We prepare import documents for smooth customs clearance, create a timely selection of tariff classifications, pay and collect duties/taxes, and act as a tax preparer.

Interested in Cost Recovery?

Our team of professionals can work with you to see what recovery options make the most sense for your company

Talk to Our Team Today!