Taxes Payable

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Taxes Payable

10. Taxes payable

The taxes payable consist of:

● A payroll tax liability of $139,520 (CDN$182,589) 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 non-compliance with US disclosure requirements is currently being addressed. An amount of $250,000 has been accrued for any potential exposure the Company may have.

● Estimated income taxes payable in certain of the Canadian operations.

	June 30, 2019		December 31, 2018
Payroll taxes	$	139,520	$	133,843
HST/GST payable		4,670		33,757
US penalties due		250,000		250,000
Income tax payable		372,965		357,792
	$	767,155	$	775,392