Note 8 Income Taxes
Income tax recovery differs from that which would be expected from applying the effective tax rates to the net income (loss) as follows:
| December 31, 2017 | December 31, 2016 | |||||||
| Net income (loss) for the year – as restated | $ | (53,273 | ) | $ | (42,159 | ) | ||
| Statutory and effective tax rates | 26.0 | % | 26.0 | % | ||||
| Income taxes expenses (recovery) at the effective rate | $ | (13,851 | ) | $ | (10,961 | ) | ||
| Tax benefit not recognized | 13,851 | 10,961 | ||||||
| Income tax expense (recovery) and income tax liability (asset) | $ | - | $ | - | ||||
As at December 31, 2017 the tax effect of the temporary timing differences that give rise to significant components of deferred income tax asset are noted below. A valuation allowance has been recorded as management believes it is more likely than not that the deferred income tax asset will not be realized.
| December 31, 2017 | December 31, 2016 | |||||||
| Tax loss carried forward | $ | 341,791 | $ | 288,518 | ||||
| Deferred tax assets | $ | 88,866 | $ | 75,015 | ||||
| Valuation allowance | (88,866 | ) | (75,015 | ) | ||||
| Deferred taxes recognized | $ | - | - | |||||
The tax losses will expire between 2027 and 2038.