If a corporation no longer requires the initial common share capital provided by the shareholders, all or

Question:

“If a no longer requires the initial common share capital provided by the shareholders, all or a portion of it can be returned to the shareholders without any tax consequences to the shareholders.” Is this statement true? Explain.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...