Taxes for foreign property or companies in Canada

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In the previous section, we have seen the taxes in Canada for foreigners, in particular, for individuals. In addition to this group, companies and properties are also required to declare their income and pay taxes on it, in this way the real estate market is regulated and income is generated for local administrations. If you are a business owner or investor, this will interest you:

Property tax : This is an annual tax whose nigeria phone number library rate depends on the location of the property. For example, in Vancouver this tax is levied at a rate of 3% of the cadastral value. In addition, there are general property taxes, for sale or purchase, which are calculated according to the province and municipality. In this case, 50% of the profits obtained must be declared.
Corporate Income Tax : Businesses must report their profits within the country at a federal rate of 15%, while each province adds between 8% and 16%, depending on location.
Tax benefits for foreign companies in Canada
Canada is strategically located due to its proximity to the United States and Mexico, which makes it a promising country for many companies. For this reason, the government has designed a series of tax benefits in order to promote a dynamic and favorable business environment for foreigners . These are the most important.