Competitive Tax Climate
As one of North America’s most dynamic business environments, British Columbia offers strategic advantages that include a competitive tax climate, a culture of innovation and rewarding industry-specific tax credit programs.
Corporate Income Tax
British Columbia’s general corporate income tax rate is only 12%. When combined with the federal rate, British Columbia businesses pay a combined general corporate income tax rate of 27% — among the lowest in the G7.
Tax Credits and Exemptions
Along with affordable base rates, we offer tax credits and exemptions to many industries. These include research and development, mining exploration, oil and natural gas production, film and TV production, interactive digital media and international business.
British Columbia has no capital tax and no provincial sales tax on most production machinery and equipment.
Effective Corporate Income Tax Rates
||Digital (2-sector average)
|San Diego, California
Source: KPMG, Competitive Alternatives - Special Report: Focus on Tax, 2016 edition
* R&D tax credits eliminate all income tax liabilities.
Personal Income Tax
British Columbia has the lowest provincial personal income taxes in Canada for people earning up to $125,000.