In Canada, all resident corporations are required to file a corporation income tax (T2) return every tax year, regardless of whether there is any tax payable. This includes non-profit organizations, tax-exempt corporations, and inactive corporations. Even if your corporation has no income or is not currently active, it is important to fulfill your tax obligations

Introduction In Canada, the filing requirements for resident and non-resident corporations differ based on their tax residency status. Understanding these requirements is crucial for ensuring compliance with the Canadian tax laws. This article provides an overview of the filing requirements for resident and non-resident corporations in Canada, including the necessary forms, deadlines, and applicable taxes.

Determining the tax year for your corporation in Canada is an important decision that can have significant implications for your financial statements, tax filings, and overall business operations. While there are some guidelines and regulations outlined by the Canada Revenue Agency (CRA), corporations have the flexibility to choose their own fiscal year-end within certain parameters.