Business competitiveness should remain priority, says CPABC

The (CPABC) applaud the government for delivering a budget that aims to improve affordability and social services, however, increases to taxes affecting the business community could impact competitiveness.

Must Read

Explained: The evolving nature of cybersecurity threats

Concerns such as hacking and the presence of computer viruses have existed for decades in one form or another. As technology evolved over the years, so did the cybersecurity  threats themselves.

Sapience Analytics signs distribution agreement with Redington

Sapience Analytics and Redington said that they have entered into a distribution agreement where latter will resell the Sapience Vue solution through its network of over 30,000 channel partners, system integrators, and value-added resellers countrywide.

Andhra Pradesh to resurvey and digitise all land records

The push for resurvey and digitisation of land records in comes from the success of resurvey done in Thakkellapadu of Jaggayyapeta mandal in Krishna district

The Chartered Professional Accountants of British Columbia () applaud the government for delivering a budget that aims to improve affordability and social services, however, increases to taxes affecting the business community could impact competitiveness.

“B.C.’s CPAs welcome the government’s commitment to follow through with the February Budget’s decision to eliminate the provincial sales tax on electricity,” said Lori Mathison, FCPA, FCGA, LLB, president and CEO of CPABC, “However, increasing the general corporate income tax rate from 11 to 12 per cent for businesses with income over $500,000 impacts our competitive advantage amongst the western provinces and Ontario in terms of investment.”

Comparing to other provinces, the increase in corporate income tax rate would place B.C.’s rate above Ontario’s 11.5 per cent, and in line with the other western provinces. Increases to the individual income tax rate on taxable income over $150,000 and to the carbon tax could also threaten business competitiveness and the retention of talent.

“Maintaining business competitiveness is vital to long-term economic sustainability. Any negative tax changes could affect our ability to attract new business,” continued Mathison. “However, we have laid solid foundation through a diversified economy.”

In addition, the provincial government is committing $5 million for the establishment of an Innovation Commissioner, Emerging Economy Task Force, and the Fair Wages Commission. These initiatives are welcome and will help us maintain a modern and sustainable economy.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

Leave a Reply

*The moderation of comments is automated and not cleared manually by techobserver.in. Embedding of any link and use of abusive or unparliamentary language are prohibited.
- Advertisement -

Latest in TECH

Sapience Analytics signs distribution agreement with Redington

Sapience Analytics and Redington said that they have entered into a distribution agreement where latter will resell the Sapience Vue solution through its network of over 30,000 channel partners, system integrators, and value-added resellers countrywide.
- Advertisement -SAP Hana

Related Articles