Income Tax Act
Marginal note:Penalty for failing to file corporate returns
235 Every large corporation (within the meaning assigned by subsection 225.1(8)) that fails to file a return for a taxation year as and when required by section 150 or 190.2 is liable, in addition to any penalty otherwise provided, to a penalty for each such failure equal to the amount determined by the formula
A × B
- is the total of
- is the number of complete months, not exceeding 40, from the day on or before which the return was required to be filed to the day on which the return is filed.
- NOTE: Application provisions are not included in the consolidated text;
- see relevant amending Acts. 1994, c. 7, Sch. II, s. 187, Sch. VIII, s. 135;
- 2006, c. 4, s. 88.
- Date modified: