We are looking to open a company in Ontario Canada and open a company bank account.
The sales will take place in the UK to customers based in the UK over the internet as it is an e-commerce business. All the money from Sales will come directly into the Canadian business bank account and all Purchases will leave from the Canadian bank account.
How will we be taxed in Canada?
Will we have to pay a General Sales Tax?
Which percentage of corporation tax will we pay?
We expect our Turnover to be approx $600000 per anum with profits of around $200000
There are way too many factors to consider to answer this question. Talk to an accountant with international expertise. There are residency rules, currency rules, bank deposits and withdrawal rules, and tax treaty rules. Canada has rules on rules. Taxes are dependant on all of the other rules, and on what type of product or service you are selling.
There are way too many factors to consider to answer this question. Talk to an accountant with international expertise. There are residency rules, currency rules, bank deposits and withdrawal rules, and tax treaty rules. Canada has rules on rules. Taxes are dependant on all of the other rules, and on what type of product or service you are selling.
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