Which of the following statements concerning income taxes in Canada is not true?
A)Income taxes must often be estimated based on prior years' tax returns.
B)Income taxes are usually paid through instalment payments throughout the year.
C)The deadline for filing a corporate tax return and payment of any outstanding taxes is six months after the company's year-end.
D)Multinational companies located in Canada may be required to pay tax in Canada.

Question

Quizplus · Accepted Answer

The deadline for filing a corporate tax return and payment of any outstanding taxes in Canada is generally six months after the company's year-end, but the payment of any outstanding taxes is typically due within two months after the year-end for most corporations, not six months.

Which of the Following Statements Concerning Income Taxes in Canada