CA Magazine, August 1st, 2002
[HEADNOTE ]
taxation
[HEADNOTE ]
CANADIAN CORPORATIONS CAN MAXIMIZE THEIR ENTITLEMENT TO THE FEDERAL MANUFACTURING AND PROCESSING RATE REDUCTION
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As most readers are likely aware, the 2000 Canadian federal budget introduced legislative changes that will reduce the general corporate tax rate for corporations earning active business income in Canada to the rate now enjoyed only by corporations engaged in manufacturing and processing activities in Canada. Prior to these changes, M & P profit was taxed at rates up to 19.5% lower than o...
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