Taxes Payable

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Taxes Payable

9. Taxes Payable

The taxes payable consist of:

● A payroll tax liability of $144,638 (CDN$190,459) in Greenestone Muskoka which is being paid off in instalments.

● 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. The Company is taking steps to comply with US disclosure requirements, and has established a provision in the amount of $250,000.

	June 30,  2018		December 31, 2017
Payroll taxes	$	144,638	$	155,894
US penalties due		250,000		250,000
Income tax payable		269,940		283,346
	$	664,578	$	689,240