All corporate residents in Canada are subject to income tax levied upon income earned within the taxation year from all sources, worldwide.The owners of proprietorships and partnerships are required to record earnings as self-employed income in their personal income tax return. Corporations are required to file a return separate from the owner's personal tax return.Corporations located in Alberta must submit separate income tax returns to the Federal government and to the Alberta government. Foreign companies with individuals or branches operating in Canada are liable for Canadian income tax on profits derived from their Canadian business operations. For further information on Alberta Corporate Tax, contact Alberta Finance.
