1. Goldie-Locks is a licenced gold producer headquartered in Toronto, Canada. Founded in 2010, today, Goldie-Locks has three operating gold mines located in various countries including the Philippines, Namibia, and Congo. In 2020, Goldie- Locks forecasts consolidated gold production of between 1,000,000 and 1,055,000 ounces. In which country will the income of Goldie-Locks be taxed? a) Philippines b) Congo c) Canada d) All of the above 2. If Goldie-Locks is to be taxed in Namibia, what will be the applicable flat tax rate for such a mining company? a) 37.5% b) 35 % c) 50.% d) 18.%
1. Goldie-Locks is a licenced gold producer headquartered in Toronto, Canada. Founded in 2010, today, Goldie-Locks has three operating gold mines located in various countries including the Philippines, Namibia, and Congo. In 2020, Goldie- Locks forecasts consolidated gold production of between 1,000,000 and 1,055,000 ounces. In which country will the income of Goldie-Locks be taxed? a) Philippines b) Congo c) Canada d) All of the above 2. If Goldie-Locks is to be taxed in Namibia, what will be the applicable flat tax rate for such a mining company? a) 37.5% b) 35 % c) 50.% d) 18.%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Goldie-Locks is a licenced gold producer headquartered in Toronto, Canada.
Founded in 2010, today, Goldie-Locks has three operating gold mines located in
various countries including the Philippines, Namibia, and Congo. In 2020, Goldie-
Locks
ounces.
In which country will the income of Goldie-Locks be taxed?
a) Philippines
b) Congo
c) Canada
d) All of the above
2. If Goldie-Locks is to be taxed in Namibia, what will be the applicable flat tax rate for
such a mining company?
a) 37.5%
b) 35 %
c) 50.%
d) 18.%
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