VALUE-ADDED TAX RECEIVABLE |
6 Months Ended | ||||||||||||||||||||
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Apr. 30, 2020 | |||||||||||||||||||||
| VALUE-ADDED TAX RECEIVABLE [Abstract] | |||||||||||||||||||||
| VALUE-ADDED TAX RECEIVABLE | NOTE 6 – VALUE-ADDED TAX RECEIVABLE Value-added tax (“VAT”) receivable relates to VAT paid in Mexico. The Company estimates that net VAT of $215,961 will be received within 12 months of the balance sheet date. The allowance for uncollectible VAT was estimated by management based upon a number of factors, including the length of time the returns have been outstanding, responses received from tax authorities, general economic conditions in Mexico and estimated net recovery after commissions. A summary of the changes in the allowance for uncollectible VAT for the six months ended April 30, 2020 is as follows:
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