IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 26 Oct 2017 | Removal date: open ended
Still in force

Tax or social insurance relief

The International Business Activity (IBA) program was a provincial government initiative first enacted in 1988. Under this program, British Columbia provided a refund of the provincial income tax paid on income related to the corporation’s international business carried on in the province by eligible corporations, certain foreign banks authorized to carry on business in Canada, and specialists employed by these entities. The program was projected to cost Can.$25 million (US$19.5 million) in 2017-18 The provincial government's Budget 2017 Update proposed to eliminate the IBA program effective September 12, 2017. That plan came into effect after the Legislative Assembly voted down on October 26, 2017 an amendment to maintain the program’s funding.

AFFECTED COUNTRIES

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