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B.C. Reg. 128/2003
O.C. 291/2003
Deposited March 28, 2003
retroactive to October 1, 2002
This consolidation is current to November 21, 2017.

Income Tax Act

Book Publishing Tax Credit Regulation

Carrying out business primarily in British Columbia

1  For the purposes of Part 8 of the Income Tax Act, a book publishing corporation carries out its business primarily through a permanent establishment in British Columbia if, in a taxation year,

(a) the corporation has no permanent establishment outside of British Columbia, or

(b) the percentage determined for the corporation by the following formula exceeds 50%:

AX 100%

B
where
Ais the total salaries and wages paid by the corporation in the taxation year to employees of the permanent establishment in British Columbia, and
Bis the total salaries and wages paid by the corporation in the taxation year.

[Provisions of the Income Tax Act, R.S.B.C. 1996, c. 215, relevant to the enactment of this regulation: sections 48 and 115]