Amounts payable to taxpayers
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Amounts payable to taxpayers are based on assessments as well as estimates of refunds owing for assessments not completed by year end.
Table 5.6 presents a summary of the balances for the different tax revenue streams.
|March 31, 2017||March 31, 2016|
|Personal and non-resident income tax||35,530,639,338||34,585,461,543|
|Corporate income tax||8,718,842,155||8,293,710,337|
|Goods and services tax||10,777,092,225||10,755,233,354|
|Customs and excise||50,490,242||62,888,394|
Personal and non-resident income tax
This account records tax refunds payable to individual taxpayers as well as amounts payable to employers and other withholders of personal income tax. This account also includes any interest owing on the balances.
Corporate income tax
This account records tax refunds payable and any interest owing to corporate taxpayers.
Goods and services tax
This account records refunds, rebates and any interest owing related to the goods and services tax.
Customs and excise
This account records refunds of customs import duties, excise taxes and duties, energy taxes and any interest owing on the balances.
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