Hello, Kindly guide me on are Canadian Corporations required to pay taxes on Foreign Income in any of the following scenarios:
Scenario 1- They Don’t have income In Canada but have employees/expenses.
Scenario 2- They Don’t have income In Canada and don’t have employees or expenses in Canada except for the keep up of the corporation.
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CRA treats foreign business income the same way you would handle business income from Canadian sources when filing your Canadian income tax return. The company incorporated in Canada is a tax resident of Canada hence its taxable on its worldwide income.
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