Time to Review B.C.’s Taxes?

BC’s business community is applauding an all-party legislature committee’s recommendation that it’s time for a review of the province’s carbon tax, employer-health tax, luxury tax, sales tax, and, something the Victoria Real Estate Board wants, the speculation and vacancy tax.

Business Council of B.C. estimates the provincial taxes paid by businesses have increased by about $5 billion annually since 2013 when harmonized sales tax was killed. It says the biggest increase was a result of the return to the PST, and a return to business paying about $3 billion annually in sales tax on a range of business inputs. It remains to be seen if the Provincial government will entertain the idea.

Want more information? https://www.timescolonist.com/business/business-groups-welcome-suggestion-for-b-c-tax-review-1.23911419