Taxes Payable |
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
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Taxes Payable | 8. Taxes Payable
Taxes payable consist of:
On June 30, 2023, the Company entered into an exchange agreement with Leonite Capital, LLC, whereby it exchanged the 400,000 Series B shares with a value of $400,000 plus accrued dividends thereon of $61,184 for its entire shareholding in its property owning subsidiary, Cranberry Cove Holdings. The HST/GST payable was settled prior to disposal.
The income tax provision raised in previous years was reversed in the current year upon filing the tax returns with no taxation payable.
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