v3.23.1
INCOME TAXES
 12 Months Ended
Dec. 31, 2022
INCOME TAXES  
INCOME TAXES

NOTE 11. INCOME TAXES

 

Income tax expense and recovery differs from that which would be expected from applying the effective tax rates to the net income (loss0 for the years ended December 31, 2022 and 2021 for the Company is as follows:

 

 

 

December 31, 2022

 

 

December 31, 2021

 

Net income (loss)

 

$(49,273)

 

$59,545

 

 

 

 

 

 

 

 

 

 

Statutory and effective tax rate

 

 

21%

 

 

21%

Income tax expense (recovery) at the effective rate

 

 

(10,300)

 

 

12,500

 

Permanent adjustment

 

 

 

 

 

 

(23,600)

Tax benefit (liability) deferred

 

 

10,300

 

 

 

11,100

 

Income tax expense (recovery)

 

$-

 

 

$-

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

December 31, 2021

 

Tax losses carried forward

 

$149,125

 

 

$99,852

 

 

 

 

 

 

 

 

 

 

Statutory and effective tax rate

 

 

21%

 

 

21%

Deferred tax asset

 

 

31,300

 

 

 

21,000

 

Valuation allowance

 

 

(31,300)

 

 

(21,000)

Net deferred asset

 

$-

 

 

$-