Sales Taxes Payable

3 Months Ended

Mar. 31, 2015

NOTE 4 – SALES TAX PAYABLE

Harmonized Sales Taxes “HST”

HST is a consumption tax in Canada. These taxes are considered “value added” taxes as they are based on net sales and purchases of goods and services. The Company has estimated the HST payable and related interest and penalties payable for the periods ended:

	March 31, 2015		December 31, 2014
	(Unaudited)
HST Payables	$	50,777	$	42,461
Penalties and interest payable		3,061		3,328
Total HST payable	$	53,838	$	45,789

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Orbis Corp 10-Q