Taxes Payable

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Taxes Payable

9. Taxes Payable

The taxes payable consist of:

● A payroll tax liability of $153,571(CDN$198,014) in Greenestone Muskoka which has not been settled as yet.

● The Company has assets and operates businesses in Canada and is required to disclose these operations to the US taxation authorities, the requisite disclosure has not been made. Management has reserved the maximum penalty due to the IRS in terms of non-disclosure. This noncompliance with US disclosure requirements is currently being addressed. An amount of $250,000 has been accrued for any potential exposure the Company may have.

	March 31, 2018		December 31, 2017
Payroll taxes		153,571		155,894
US penalties due		250,000		250,000
Income tax payable		275,676		283,346
	$	679,247	$	689,240