OTCPK:NBRI - Post by User
Post by
bcprospectoron Jan 17, 2012 5:37am
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Post# 19410895
Canadian mining claims tax consequences
Canadian mining claims tax consequences Northbay likes to represent itself as a mining explorer in British Columbia Canada, the reality is quite different, NorthBay has mining claims in British columbia because they can acquire them cheap online, $8.00 will get you approx. 50 acres. After acquiring the claims the goal is quite simple, just flip them to some sucker, and this is what NorthBay has been doing, actually quite successfully, what I would like to know is if NorthBay has been filing a tax return in Canada, after all if you are making substancial income in Canada and do not have any exploration expenses, it is only resonable to pay a little bit back to the foreign country( Canada) your making this income from. Potencial investors in this company might want to give this some thought.