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Author Question: In Canada, the corporate income tax is integrated with the ________, so that ________ are not taxed ... (Read 72 times)

erikka246

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Question 1

Suppose a firm buys $3000 worth of inputs from other firms, hires $2000 worth of labour services, and has sales revenue of $7500. The firm's resulting profit is $2500. If the GST (a value-added tax) rate is 5%, this firm will pay ________ in GST.
◦ $0
◦ $375
◦ $225
◦ $125
◦ $2500

Question 2

In Canada, the corporate income tax is integrated with the ________, so that ________ are not taxed twice on the firm's earnings.
◦ property tax; corporations
◦ income tax; shareholders
◦ sales tax; shareholders
◦ personal income tax; corporations
◦ sales tax; consumers


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Marked as best answer by erikka246 on Oct 12, 2022

spicyzack

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erikka246

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Reply 2 on: Oct 12, 2022
:D TYSM


Sarahjh

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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