B.C. Proposes LNG Tax Rate
Posted on Oct 22, 2014 in Canada & Mexico, Policy, Legislation and Politics | Comments Off on B.C. Proposes LNG Tax Rate
Yesterday, the British Columbia (B.C.) government introduced the Liquefied Natural Gas Income Tax Act, which proposes to tax LNG projects at a rate of 1.5% when production begins, rising to 3.5% after capital costs are recovered and then rising to 5% after January 1, 2037. Some LNG terminal sponsors applauded the reduction in the tax rates that were originally proposed this past February. Read more in the press release and this additional Financial Post article.