B.C. Cuts Corporate Taxes

“As long as we were taxing the assets from our financial institutions, we would not see them growing in British Columbia, we would not bring financial institutions from Asia to our centres,” B.C. Finance Minister Carole Taylor said Tuesday, adding the unpopular tax was raised repeatedly in pre-budget consultations with business interests. British Columbia scrapped its corporate capital tax on most businesses in 2001, but retained it for financial institutions, with large institutions paying a 3 per cent levy and smaller institutions paying 1 per cent. The corporate capital tax move is part of a package of cuts, incentives and other measures, including a widely expected carbon tax, unveiled in Tuesday's budget by Ms. Taylor, who highlighted the document's climate change themes with her choice of green shoes and a green-toned suit. ... http://www.reportonbusiness.com/servlet/story/RTGAM.20080219.wbcbudget-business0219/BNStory/Business B.C. cuts corporate taxes Contributed by: Diogenes http://www.theglobeandmail.com/servlet/story/RTGAM.20080219.wbcbudget-business0219/BNStory/Front

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