Words and Phrases - "penalty"
Exida.Com Limited Liability Company v. Canada, 2010 DTC 5101, 2010 FCA 159
A non-resident corporation which failed to file corporate income tax returns but which had no income taxes payable in Canada was not subject to the penalty under s. 162(2.1) as it was not potentially subject to any penalty under s. 162(1) or (2) and therefore was not "liable to" a penalty under such provisions. However, it was subject to a penalty in the same amount under s. 162(7) given that it would not be a proper construction of the word "penalty" to find that it had been subjected to a nil penalty under s. 162(1).
|Locations of other summaries||Wordcount|
|Tax Topics - Income Tax Act - Section 162 - Subsection 162(2.1)||no substantive tax liability||64|
|Tax Topics - Statutory Interpretation - Ordinary Meaning||purposive interpretation must be consistent with words||87|
|Tax Topics - Statutory Interpretation - Territorial Limits||no filing requirement if no connection with Canada||77|