We are amazon sellers. Amazon has collected the sales tax i.e. $4532 on our behalf and will probably remit to CRA itself. Should we account this amount in our books?

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We are amazon sellers. Amazon has collected the sales tax i.e. $4532 on our behalf and will probably remit to CRA itself. Should we account this amount in our books?

Yes, sales taxes collected by amazon should still be recorded as sales tax liability that will clear out after amazon remits the tax.

For more information, please click:

TurboTax Can I Get a Tax Credit for the Sales Tax I Paid?

Amazon Canadian sales taxes on Amazon.ca Seller Fees

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