Vancouver improves ranking as a global financial centre, moves from #16 to #15 in the latest Global Financial Centre Index (GFCI)
ranking published March 2013. The Global Financial Centres Index (GFCI) is published semi-annually by Z/Yen.
"B.C. government plan to lure Asian corporate offices lands support"
Who can take credit for B.C.'s prosperity?
Welcome to AdvantageBC
AdvantageBC International Business Centre · Vancouver (formerly the International Financial Centre British Columbia (IFC BC)) is a non-profit society with a mandate to promote international business in British Columbia
A Low-Tax Zone for International Business
British Columbia offers companies a unique opportunity to increase profitability. By locating an international business in British Columbia and registering in the province's International Business Activity (IBA) program, formerly the International Financial Activity (IFA) program, a company can receive a full refund of British Columbia taxes paid on the net income of the international financial business (75% for income earned on qualifying patents to a maximum of $8 million).
In 2004, the International Business Activity Act (IBAA) was expanded to cover financial investments, administrative support functions, financial advice and research, foreign exchange, leasing, factoring receivables, film and television distribution and insurance services. More recently, the province announced the IBAA would be expanded further to cover digital media, clean technology, and carbon credit trading.
A company registered in the IBA program can receive up to a full refund of provincial tax on income earned on qualifying activities, incurring only the federal corporate income tax rate of 15% in 2013.
In this way, a company can gain the advantage of outsourcing functions to a near-shore or on-shore location with an off-shore tax structure and without incurring the associated risks or unexpected costs.
What makes British Columbia’s program unique?
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