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.
Thank you
Salman Rundhawa Changed status to publish
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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