Which of the Following Statements Is False

Which of the following statements is false?

A) If the Canadian tax rate exceeds the combined tax rate on all foreign income, it is valid to assume that the firm pays the same tax rate on all income no matter where it is earned.
B) Firms can lower their taxes by pooling multiple foreign projects and accelerating the repatriation of earnings.
C) Under Canadian tax law, multinational corporations may use any excess tax credits generated in high-tax foreign countries to offset their net Canadian tax liabilities on earnings in low-tax foreign countries.
D) If the foreign tax rate exceeds the Canadian tax rate, because the Canadian tax credit exceeds the amount of Canadian taxes owed, no tax is owed in Canada.