Taxes Payable

12 Months Ended

Dec. 31, 2021

Taxes Payable

Taxes Payable

11. Taxes Payable

Taxes payable consist of:

● A payroll tax liability of $144,021 (CDN$182,589) in Greenestone Muskoka which has not been settled as yet.  

● A GST/HST tax payable of $123,134 (CDN$156,109).  

● 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. Previously an amount of $250,000 was accrued for any potential exposure, this accrual has been reversed in the current year.

Schedule of taxation payable
	December 31, 2021		December 31, 2020
Payroll taxes	$	144,020	$	143,410
HST/GST payable		123,134		73,503
US penalties due		—		250,000
Income tax payable		391,682		383,364
Taxes Payable	$	658,836	$	850,277