British Columbia to Unveil LNG Tax Rules in October 2014
On September 21, 2014, British Columbia (BC) Deputy Premier Rich Coleman announced that BC will unveil its tax rules for the liquefied natural gas (LNG) industry next month. It is anticipated that the BC Government will table the Bill for debate within the first two weeks of the fall session’s start on October 6, 2014 with the aim for the tax regime to be in place by November 30, 2014.
As noted in an earlier blog post, the Government of BC delayed the release of its tax regime back in February 2014 for the purpose of completing further consultations with industry and LNG project proponents. To date, no final investment decisions have been made, but certain proponents have indicated they intend to do so before the end of 2014.
McCarthy Tétrault will be preparing a detailed review and commentary of the draft LNG tax legislation immediately following its publication. Should you or your colleagues wish to receive email notification of this publication please ensure you are on our mailing list.