Provincial Commissions Calls for Tax Reform; BBOT Renews Call to Fix the PST
The Commission on Tax Competitiveness, which was created in Budget 2016, has now released its final report on BC’s tax system and has agreed with the Burnaby Board of Trade that it’s time to fix the PST.
The BBOT has advocated for PST reform for years, arguing that the tax burden on business investment in new equipment, machinery and software should be reduced. Last year, the BBOT spoke directly with Minister of Finance Mike de Jong on the issue and presented to the Select Standing Committee on Finance and Government Services advocating for this change. The BBOT believes that the provincial government, by removing the PST on new equipment, machinery and software could help invigorate business investment in the province and help boost the competitiveness of our local firms.
Read the news release on the Commission on Tax Competitiveness’ findings here, or see the full report below: